New Home Sales Surge to All-Time Record Pace in June

Sales of newly built single-family homes surged to an all-time seasonally adjusted annual rate of 1.374 million units in June, according to estimates released yesterday by the U.S. Commerce Department. The rate was 4.0 percent higher than the upwardly revised sales pace set in May, and 14.0 percent above the June sales pace of a year ago.

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