The decline is slightly smaller than had been expected and sales were revised up a bit for May. However, even with those changes, new home sales are down by a sharp 33.2 percent from a year ago.
New Home Sales Drop 0.6 Percent in June
WASHINGTON (AP) - July 25, 2008
The Commerce Department reported Friday that sales of new
single-family homes dropped by 0.6 percent last month to a
seasonally adjusted annual rate of 530,000 units following an even
bigger 1.7 percent fall in May.