US new home sales fall short of expectations in June

By Sevgi Ceren Gokkoyun

Despite rising 0.6% month-on-month in June, new home sales in the US fell short of market expectations.

In figures for June, the US Commerce Department said new home sales in the country reached 627,000 units, versus market expectations of 649,000.

In May, new home sales fell 11.6% on a monthly basis to 623,000

New home sales fell 6.6% year-on-year in June.

The median sales price of new homes sold in the US last month also dropped 2.9% year-over-year, falling to $401,800.