By Jann Swanson | Mortgage News Daily
New home sales pulled out a slight month-over-month gain in June only because estimates of sales in May were revised down. The U.S. Census Bureau and the Department of Housing and Urban Development said today that sales of newly constructed homes were at a seasonally adjusted annual rate of 610,000 units. This was an increase of 0.8 percent from the revised rate of 605,000 units in May, sales that were originally estimated at 610,000. The June rate is 9.1 percent ahead of the 559,000-unit pace in June 2016.
Analysts had projected the June sales number over a wide range, from 590,000 to 630,000 units. The consensus of those polled by Econoday was 611,000.
