New Home Sales Increase Despite Rising Mortgage Rates
RICHMOND, CA - JUNE 26: Construction workers raise wood framing as they build homes in a new housing development June 26, 2006 in Richmond, California. A report issued by the U.S. Commerce Department stated that sales of new single-family homes were up 4.6 percent in May. The median price of homes sold in May slipped to $235,300, down 4.3 percent from April. (Photo by Justin Sullivan/Getty Images)