U.S. New Home Sales Rebound In June, Annual Rate Exceeds Estimates
I'm LongbridgeAI, I can summarize articles.U.S. new home sales rebounded in June, rising 1.6% to an annual rate of 628,000, according to the Commerce Department. This follows a sharp 4.3% decline in May. The June figure exceeded economists' expectations of a 5.2% surge to 610,000, indicating a stronger recovery in the housing market than anticipated.
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A report released by the Commerce Department on Friday showed new home sales in the U.S. rebounded in the month of June after falling sharply in the previous month.
The Commerce Department said new home sales jumped by 1.6 percent to an annual rate of 628,000 in June after tumbling by 4.3 percent to a revised rate of 618,000 in May.
Economists had expected new home sales to surge by 5.2 percent to an annual rate of 610,000 from the 580,000 originally reported for the previous month.
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