US New Home Sales Rise by 13.8%

Data by the US Department of Commerce showed on Friday that new home sales in the United States increased by 13.8% to a seasonally adjusted annual rate of 776,000 units in June.

Meanwhile, May’s revised reading stood at 682,000 units.

On Wednesday, data by the National Association of Realtors showed that existing home sales in the US registered its highest rise on record last month, due to historically low mortgage rates.

Existing home sales in the US increased by 20.7% on a monthly basis to a seasonally adjusted annual rate of 4.72 million units in June.