Sales of New Single-Family Homes Fall by 2.5%

In June, sales of new single-family homes in the United States declined significantly more than predicted.

According to the Commerce Department, new house sales declined 2.5 percent in June compared to the previous month. According to Commerce Department figures issued Wednesday, new residences were sold at a seasonally adjusted annual pace of 697,000.

With the May figure of 763,000, sales were predicted to dip to 725,000. The previous month's figure was reduced down to 715,000.

Despite the drop, revenues were 23.8 percent more than the previous year.

A month ago, the median price of a new house was $417,300, down from $415,400.

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