The Commerce Department said that new home sales fell 2.5 percent in June compared to the previous month. New homes sold at a seasonally adjusted annual rate of 697,000, according to Commerce Department data released Wednesday.
Sales were expected to fall to a 725,000 after the May report of 763,000. The prior month was revised down to 715,000.The median price of a new home fell to $415,400 from $417,300 a month ago.
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