Economy

Sales Of New Homes Hit Fastest Pace In 2 1/2 years

A sign of the times at a building site in Ohio earlier this year. i i

A sign of the times at a building site in Ohio earlier this year. John Kuntz /The Plain Dealer /Landov hide caption

itoggle caption John Kuntz /The Plain Dealer /Landov
A sign of the times at a building site in Ohio earlier this year.

A sign of the times at a building site in Ohio earlier this year.

John Kuntz /The Plain Dealer /Landov

Sales of new single-family homes rose 5.7 percent in September from August and at an annual rate of 389,000 hit the fastest pace since April 2010, the Census Bureau and the Department of Housing and Urban Development say.

Sales were up 27.1 percent from September 2011.

Reuters calls the news "further evidence the housing market recovery is gaining steam."

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