New Home Sales Hit 2-Year High - kcentv.com - KCEN HD - Waco, Temple, and Killeen

(KCEN) -- New home sales have hit a two-year high.

In September 389,000 homes were sold.

That's the most since April of 2010.

The new home market has been showing steady signs of improvement.

Mortgage rates are near record lows and foreclosures have fallen to a five-year low, reducing the supply of distressed homes available on the market.