US new home sales jump in June
By Alexander Bueso
Date: Friday 24 Jul 2020
(Sharecast News) - New home sales in the US jumped past forecasts in June.
According to the Department of Commerce, the annual rate of home sales increased 13.8% month-on-month to 776,000.
Economists had forecast a rise from 676,000 to 700,000.
The median price of a new home meanwhile improved from $310,200 to $329,200.
The supply of new homes available for sale on the other hand declines from 311,000 to 307,000 or the equivalent of 4.7 months' worth of sales, against 5.5 months' worth in May.
May's figure for new home sales was revised higher from 676,000 to 682,000.
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