U.S. new home sales race to eight-year high, prices surge

``The Commerce Department said on Tuesday new home sales jumped 16.6 percent to a seasonally adjusted annual rate of619,000 units, the highest level since January 2008. The percent increase was the largest since January 1992... With supply tight, the median price for a new home increased 9.7 percent from a year ago to a record $321,100. New single-family homes sales soared 15.8 percent in the populous South to the highest level since December 2007. In the Northeast, sales jumped 52.8 percent to their highest level since October 2007.'' -- At these prices it is obvious that homes are mostly going to the top-25% and the "middle class" are being left out... still looks toppy to us...