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New home sales jump 6.4 percent in April

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(Read caption) This chart shows the extent of sales decline to date. New home sales rose to 6.4 percent in April, but it's still low compared to 10.6 percent seen in April 2013.

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On Saturday, the U.S. Census Department released its monthly New Residential Home Sales Report for April showing a some improvement with sales climbing 6.4 percent from March but still dropping 4.2 percent below the level seen in April 2013 and remaining at an historically low level of 433K SAAR units. 

The monthly supply declined to 5.3 months while the median selling price declined 1.25 percent and the average selling price declined 5.01 percent from the year ago level.

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