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Wednesday, June 19, 2024
HomeNewsEconomyNew Home Sales Tumble in June to Lowest Level Since November

New Home Sales Tumble in June to Lowest Level Since November


New homes sales data reported by the Commerce Department. (Photo: REUTERS)

The Commerce Department reported new home sales fell 6.8 percent in June from the prior month to 482,000, the lowest reading since November. Still, June sales were up 18.1 percent from a year ago, and sales through the first half of 2015 are up 21.2 percent from the first half of 2014.

While new homes sales in the Northeast remained strong in June — rising 28 percent after soaring 78.6 percent in May — in the South, where most home construction takes place, continues to stagger.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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