"It's very clear now that the housing market has turned a corner"
- Richard DeKaser, deputy chief economist at Parthenon Group LLC
Sales of new U.S. homes rose by more than expected in April, Commerce Department data showed on Wednesday.
Purchases increased to an annual rate of 343,000, up by 3.3 per cent from a revised 332,000 in March.
"It's very clear now that the housing market has turned a corner," said Richard DeKaser, deputy chief economist at Parthenon Group LLC in Boston.
"The only question is how strong the rebound is going to be. It bodes well for the broader economy."
"The recent buoyancy in housing market activity has raised hopes that this beleaguered sector may finally be on the verge of a rebound," said Millan Mulraine, senior macro strategist at TD Securities in New York.
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