June New-Home Sales Surge To Record Pace

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 by the U.S. Commerce Department. The rate was 4 percent higher than the upwardly revised sales pace set in May, and 14 percent above the June sales pace of a year ago.

“Builders expected June numbers to be very strong,” said David Wilson president of the National Association of Home Builders (NAHB) and a custom home builder from

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