New Residential Sales Surge in June

Sales of new single-family houses rebounded strongly in June from the prior month’s record low, government data showed on Monday, driving the number of houses on the market to their lowest level in nearly 42 years. The Commerce Department said sales jumped 23.6 percent to a 330,000 unit annual rate from a downwardly revised 267,000 units in May. The sales pace last month was still the second lowest since records started in 1963. – Reuters

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