US new home sales jump in April
Sales of new homes in the US rebounded strongly in April, after suffering a sharp decline in March.
According to data released on Tuesday, new home sales jumped 26% year-on-year in April to an annual rate of 517,000, marking a 6.8% increase from the previous month.
Meanwhile, the median price of new homes rose 8.3% year-on-year to $297,300, the highest level since December.
"The continued solid increases across home price surveys supports our view that the slowdown in starts was likely weather related and temporary," Barclays analysts said in a note.
"We think the housing market remains in recovery mode this year, albeit a modest one."