New home sales unexpectedly declined in June, bucking a trend of recent positive news in the housing sector. The Commerce Department said Friday that sales of new single-family homes fell 6.8 percent from May to a seasonally adjusted annual rate of 482,000. Wall Street had expected sales to rise to a 548,500 annual rate, according to FactSet. Other recent data points have shown the housing market is improving.
— Los Angeles Times
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