New U.S. home sales surge in June to strongest rate in 13 years

New home sales rise to 776,000 rate, above prior cycle-high of 774,000 recorded in January

The numbers: Sales of new single-family homes rose sharply for the second straight month in June, pushing the sales rate to its highest level in 13 years, according to data released Friday.

The annual sales pace for U.S. new-home sales rose 13.8% last month to 776,000, the Commerce Department said Friday. That’s above the prior cycle high of 774,000 hit in January and is the strongest since… Click Here to Continue Reading