US new-home sales in June rise

China Daily (Canada) - - BUSINESS -

Sales of newhomes in the United States jumped in June to the high­est level since Fe­bru­ary 2008, as the US hous­ing mar­ket en­joyed a solid first half of this year. The sales of news­in­gle-fam­ily houses in June were at a sea­son­ally ad­justed an­nual rate of 592,000, 3.5 per­cent above the re­visedMay level, and 25.4 per­cent above the same pe­riod last year, the Com­merce De­part­ment said. the June quar­ter for an an­nu­al­ized 1.0 per­cent in­crease, how­ever un­der­ly­ing in­fla­tion — which strips out volatile price move­ments— rose 0.5 per­cent for an an­nu­al­ized rate of 1.5 per­cent gain.

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