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New home sales up, but sales remain slow

Post Time:Jul 27,2010Classify:Industry NewsView:100

Sales of new homes jumped last month, but it was the second-weakest month on record. The lackluster economy has made potential buyers skittish about shopping for homes.

New home sales rose nearly 24 percent in June from a month earlier to a seasonally adjusted annual sales pace of 330,000, the Commerce Department said Monday [July 26]. May's number was revised downward to a rate of 267,000, the slowest pace on records dating back to 1963. Sales for April and March were also revised downward, according to a July 26 APreport.

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Source: http://www.glassmagazine.com/news-item/retail/new-home-sales-sales-remain-slowAuthor:

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