July 28, 2006
New Home Sales Fall
WASHINGTON (Reuters) — Sales of new homes fell more than expected in June to a seasonally adjusted annual rate of 1.131 million and the median home price fell for the second month in a row as the U.S. housing market showed more signs of cooling.
The 3% drop in new-home sales was the first decline since February, the Commerce Department said. Compared with a year earlier, new-home sales were down 11.1%.
Analysts polled by Reuters were expecting new-home sales to cool to a 1.160 million annual rate.
