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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.