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LATEST US DATA

June new-home sales rise at fastest pace since Feb '08

Broader picture for residential property shows steady gains fuelled by stable employment and low borrowing costs

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Purchases of new US single-family homes rose in June to the highest level in more than eight years, indicating a firm housing market.

Washington

PURCHASES of new US single-family homes rose in June to the highest level in more than eight years, indicating a firm housing market.

Sales increased 3.5 per cent to a 592,000 annualised pace, the fastest since February 2008, Commerce Department data showed on Tuesday in...

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