Key Points:
- New home sales fell 6.6% from May to a seasonally adjusted 676K in June, a 14-month low.
- Consensus among economists was a 3.0% rise.
- New home sales are 19.4% below June 2021.
- Meanwhile, the FHFA reported that house prices rose nationwide in May, up 1.7% from the previous month.
- House prices rose 18.0% from May 2020 to May 2021.
- The Right Facts will continue to monitor home sales.