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US new home sales post lowest levels in seven months in June

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/07/2015 (18:11)
New home sales in the US posted their lowest levels since last November in June, according to data from the US Commerce Department. New home sales fell 6.8% to reach a seasonally adjusted annual rate of 482,000 units. The country’s new home sales for May were also revised down to an annualized pace of 517,000 units from the previously reported pace of 546,000 units. Economists’ initial estimates had called for a flat trend in a survey conducted by the Reuters.

On a yearly basis, however, new home sales rose 18.1% in June compared with the same month of 2014.

New home sales in the Northeast rose 28% while new home sales declined 17% in the West. In the South and Midwest, sales were down also down by 4.1% and 11.1% in June, respectively.
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