Daily Real Estate News
Sales of newly built single-family homes fell 6.8 percent in June to the lowest level since last November, the Commerce Department reports. But builders remain upbeat that the housing recovery is still intact.
New-home sales were at a seasonally adjusted annual rate of 482,000 units in June. The drop follows a report last week that showed builders were increasing production of new homes, with housing starts climbing nearly 10 percent in June month-over-month. Most of that increase was due to a surge in multifamily construction.
New-home sales continue to be volatile month-to-month.
