New-home sales tread water, miss Wall Street estimates

• July 26, 2017
• realestatelife
• Business & Markets, Real Estate Finance

Sales of newly-constructed homes remained steady in June even as the market remains starved for inventory.

New-home sales were at a seasonally adjusted annual rate of 610,000, the Commerce Department said Wednesday. That was 0.8% above May’s 605,000 rate, after a slight downward revision. June’s tally was 9.1% higher than a year ago.