Home Prices, New Home Sales | featured news

New U.S. single-family home sales eased in August but held near two-year highs and prices vaulted to their highest level in more than five years, adding to signs of a broadening housing market recovery.

Americans bought slightly more new homes in October, a hopeful sign for the troubled housing market. But the median sales price fell to its lowest level of the year, and the overall sales pace is trailing last year's - the worst in half a century.

New single-family home sales unexpectedly fell in June, but a sharp rise in prices and declining supply suggested the market for new houses was starting to stabilize, a government report showed on Tuesday.