The Commerce Department said new home sales rose 1.7 percent to a seasonally adjusted annual rate of 1.028 million, the third fastest pace since the government began tracking the data in 1963. March sales were revised slightly to a 1.011 million rate from the previously reported 1.012 million pace.
In the Commerce report, the supply of new homes on the market fell to 3.9 months' worth from 4.1 months in March, That's the leanest supply since September
2002 when the figure was also 3.9 months.