A report released by the Commerce Department on Wednesday showed a notable pullback in new home sales in the U.S. in the month of June.
The Commerce Department said new home sales slumped by 2.5 percent to an annual rate of 697,000 in June after surging by 6.6 percent to a downwardly revised rate of 715,000 in May.
Economists had expected new home sales to tumble by 5.0 percent to a rate of 725,000 from the 763,000 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.