US new home sales rise for 2nd straight month
Washington
NEW US single-family home sales increased for a second straight month in June as purchases in the west surged to a near 10-year high, but a dire shortage of properties remains an obstacle to a robust housing market recovery.
The Commerce Department said on Wednesday that new home sales rose 0.8 per cent to a seasonally adjusted annual rate of 610,000 units last month. May's sales pace was revised down to 605,000 units from the previously reported 610,000 units.
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