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Sales of new homes in April were up slightly from March, but are down 42% from 2007.
By David Goldman, CNNMoney.com staff writer
Last Updated: May 27, 2008: 2:12 PM EDT
New home sales rose unexpectedly in April, but remain near 17-year lows.
NEW YORK (CNNMoney.com) -- New home sales rose unexpectedly in April but remained near historically low levels, according to a key government report on the battered housing market.
April sales came in at a seasonally adjusted annual rate of 526,000, a Census Bureau report showed, up 3.3% from March.
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