AUSTIN - Good news for home builders in Austin and maybe for the economy as a whole as sales of new homes increased nearly 7 percent in April to a seasonally adjusted annual rate of 517,000, according to the U.S. Census Bureau.
While it is still a below-average rate historically, it is up 26 percent compared with April 2014. The median sales price for a new home rose to $297,300 in April, up from $285,500 in March 2015.
This supply shortage, plus higher home prices, could spur demand for more home construction.
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