June's new-home sales fall 33%

New-home supply running at 10 months
Although sales of new single-family houses in June dipped just 0.6 percent from May's level, they were down more than 33 percent from a year ago, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. Sales last month were running at a seasonally adjusted annual rate of 530,000 units, compared with 533,000 units in May and 793,000 in June 2007.

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