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New US home prices just hit a record high

By Matt Phillips

The US spring home selling season is roaring forward in the US, with new home sales surging 17% in April, the fastest clip since January 2008.

Meanwhile, the median price for new US homes rose to a record $321,000 in April.

For diehard Quartzies, the health of the US housing sector shouldn’t come as a huge surprise, we recently spotlighted strong performance from large US home improvement retailers Home Depot and Lowe’s, suggesting that the momentum in the US household sector is gaining some steam.

On the other hand—there’s always another hand—with US household ownership rates languishing at near 48-year-lows, the relative economic health of the home-buying class might not reflect widespread national prosperity like it once did.