New home sales in the U.S. showed a substantial rebound in the month of June, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said new home sales spiked by 7.0 percent to an annual rate of 646,000 in June after plunging by 8.2 percent to a revised rate of 604,000 in May.
Economists had expected new home sales to jump by 5.4 percent to a rate of 660,000 from the 626,000 originally reported for the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.