new home sales

New-home sales rebound in June after two straight declines

New-home sales rebound

The numbers: New-home sales rebounded in June, the first gain in three months, government data released Wednesday show. The annual sales pace for new single-family homes in the U.S. rose 7% last month to 646,000, led by a big gain in sales in the West, the Commerce Department said.

Economists polled by MarketWatch had expected a June sales rate of 657,000, compared with an original May estimate of 626,000. On Wednesday, the government revised May’s rate to 604,000.

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New Home Sales Edge Higher in June

Sales of newly built, single-family homes in June inched up 0.8% to a seasonally adjusted annual rate of 610,000 units from a downwardly revised May reading, according to newly released data by HUD and the U.S. Census Bureau.

“Although we saw modest gains this month, new home sales have risen nearly 11% since the start of 2017,” said NAHB chairman Granger MacDonald. “Our members remain optimistic as the single-family housing market continues to recover.”

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