U.S. new home sales slide in June

Sales of new homes in the U.S. fell by 8.1 percent in June to an annualized pace of 590,000 units, according to data from the U.S. Commerce Department. That was the lowest rate since April 2020 and a steeper decline than the rate of 660,000 units forecast by economists in a Reuters poll. Year-over-year, sales fell by 17.4 percent. May’s rate was revised down to 642,000 units from the preliminary report of 696,000.