Sales of newly built single-family homes in the United States rose slightly in June but remained well below expectations, as elevated mortgage rates and affordability concerns continued to weigh on demand.
The U.S. Census Bureau and the Department of Housing and Urban Development reported Thursday that new home sales increased 0.6 percent in June to a seasonally adjusted annual rate of 627,000. Economists had expected a rate of 650,000. Sales were 6.6 percent below the June 2024 level.
The June figure marks the second consecutive month of subdued activity, matching May’s revised pace of 623,000 and representing the slowest two-month stretch…
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