New-home sales got a big lift last month, selling at the fastest pace in two years, the Commerce Department reported Monday.
However, analysts note that the new-home market still has a ways to go, after facing its lowest sales on record last year. A full recovery is still being held back by the lack of credit available and low appraisals.
New-home sales in May jumped the most in …
the Northeast, rising 36.7 percent, and increasing 12.7 percent in the South. Meanwhile, new-home sales dropped 3.5 percent in the West and fell 10.6 percent in the Midwest.
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