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.


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.”