New-Home Demand Soared 24% In June From Record Lows
07/26/2010 07:24 PM ET - New-home sales surged nearly 24% in June from a record low, the Commerce Department said Monday, offering hope that housing has found some sort of floor. Sales jumped 23.6% to an annual rate of 330,000, beating analyst views for 310,000. Sales were still 16.7% below year-earlier levels. Also, May sales were revised down sharply from 300,000 to 267,000. That's the lowest since records began in 1963 and a 36.7% tumble from April, when the homebuyer ... More »
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