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Mon 30 Jun 2014 11:34 AM

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US housing property sales increase by 17%

Sales of new homes in the United States in May 2014 hit their highest pace since the market crashed six years ago, as the industry pulls out of the winter lull.

US housing property sales increase by 17%
A real estate agent's sign for a townhouse listed only a few weeks ago as being 'for Sale' is now seen as having been sold, June 29, 2014 in Centreville, Virginia. Sales of new homes in the United States in May 2014 hit their highest pace since the market crashed six years ago, as the industry pulls out of the winter lull. Sales picked up to an annual pace of 504,000 units, compared to a 425,000-unit pace in April, and were nearly 17 percent higher than a year ago, the Commerce Department said June 24, 2014. (AFP/Getty Images)
US housing property sales increase by 17%
A sign for New York City Mayor Bill de Blasio's new housing plan stands at an affordable housing construction site on May 5, 2014 in the Brooklyn borough of New York City. The mayor's $41 billion 'Housing New York - A Five-Borough Ten-Year Plan', billed by his office as the most ambitious affordable housing plan in U.S. history, plans to build or preserve 200,000 apartments in the next decade. The project would serve more than half a million low and middle income New Yorkers across the city's five boroughs. New York City has some of the highest rents and property values in the nation. (Getty Images)
US housing property sales increase by 17%
A Gotham Construction company sign hangs at a residential construction site as New York City Mayor Bill de Blasio unveils his affordable housing plan on May 5, 2014 in the Brooklyn borough of New York City. The mayor's $41 billion 'Housing New York - A Five-Borough Ten-Year Plan', billed by his office as the most ambitious affordable housing plan in U.S. history, plans to build or preserve 200,000 apartments in the next decade. The project would serve more than half a million low and middle income New Yorkers across the city's five boroughs. New York City has some of the highest rents and property values in the nation. (Getty Images)
US housing property sales increase by 17%
A pedestrian walks past an advertising banner for new home sales in Alhambra, California on September 26, 2013. US pending home sales slowed for a third straight month in August, amid rising mortgage interest rates and home prices, a key industry group said today. (AFP/Getty Images)
US housing property sales increase by 17%
Construction workers are seen atop a builing of new apartments for sale in Alhambra, east of downtown Los Angeles on March 23, 2012 in California. Sales of new homes in the United States slipped for the second straight month in February but the median price of homes sold picked up sharply, according to the Commerce Department. (AFP/GettyImages)
US housing property sales increase by 17%
Bank representatives wait to meet with homeowners to discuss various mortgage options during the Help For Homeowners event on August 8, 2012 in Upper Marlboro, Maryland. The U.S. Treasury Department hosted the event in partnership with HUD to give struggling homeowners the chance to meet directly with their mortgage service or a housing counselor. (Getty Images)
US housing property sales increase by 17%
U.S. President Barack Obama (C), joined by Attorney General Eric Holder (L) and Housing and Urban Development Secretary Shaun Donovan, speaks about the details of a $26 billion housing settlement between federal and state officials and mortgage lenders, in the Eisenhower Executive Office Building on February 9, 2012 in Washington, DC. The $26 billion agreement settles potential charges of improper foreclosures and mortgage fraud. (Getty Images)