WASHINGTON (dpa-AFX) - New home sales in the U.S. showed a notable decrease in the month of June, according to a report released by the Commerce Department on Thursday, with the steep drop offsetting the jump seen in the previous month.
The report said new home sales tumbled 8.1 percent to an annual rate of 406,000 in June from the revised May rate of 442,000.
While the May rate is well below the six-year high originally reported, it still represents an 8.3 percent increase from the revised April rate of 408,000.
Economists had been expecting new home sales to pull back by 5.8 percent to a rate of 475,000 in June from the 504,000 originally reported for May.
Copyright RTT News/dpa-AFX