Sales of new one-family houses in April rose 4.9 percent above the previous month's rate, according to a report the U.S. Census Bureau and the Department of Housing and Urban Development released jointly today. April new home sales, however, were 5.7 percent below April 2005 estimates.

"Housing is doing what it was expected to do in 2006," says Bob Walters, chief economist of Loans, the nation's largest online retail mortgage lender. "We're seeing it ease somewhat from the record levels of recent years, albeit en route to another strong year, sustained by steady job growth, a healthy economy and long-term interest rates still within reach of historic lows." In 2005, Loans closed $16 billion in volume through its Web site, Loans.com.

Publish Date: 05/25/2006