National Association of Realtors

New-home sales improved modestly in June

U.S. sales of new homes perked up slightly in June, a sign that more would-be buyers are seeking newly built properties.

The Commerce Department said Wednesday that new-home sales edged up 0.8 percent to a seasonally adjusted annual rate of 610,000. Sales have registered a healthy 10.9 percent increase so far this year.

The gains come amid a broader shortage of homes listed for sale, likely pushing more buyers into new construction. Despite steady growth since the housing bubble began to burst a decade ago, sales of new homes remain below historic averages. Builders are contending with a lack of land for construction, a shortage of workers and rising costs for some...

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