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New home sales: 'Really good news'

NEW YORK (CNNMoney.com) -- Sales of newly constructed single-family homes spiked 11% in June to an annualized rate of 384,000 homes, according to a report released Monday.

The gain over May was much greater than expected. A consensus of housing industry analysts had forecast seasonally adjusted sales of 352,000, according to Breifing.com.

However, sales are still 21% below the levels of a year ago, when new homes sold in June at an annualized rate of 488,000, according to the report released by the U.S. Department of Housing and Urban Development. Four years ago, during the height of the housing boom, the sales rate for June was 1,374,000, nearly three-and-a-half times higher than last month.

Still, the report was very positive, according to Peter Morici, an economics professor at the University of Maryland who had forecast June sales to be at the 350,000 level. "That is really good news. Considering what's going on in existing home sales, with all the foreclosure activity sending down home prices, for new homes to jump like that is a good indicator that the economy is bottoming out."
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Rosewood Altar Cabinet (China)

Rosewood Altar Cabinet (China)

$439.00

Hand-finished and hand-carved by Chinese artisans, this unique accent piece adds rustic Asian flair to any room. Versatile 26 in. wide x 12 in. deep x 27.5 in. high size works well in a variety of settings Solid rosewood construction with a matte lacquer finish Brass hardware The Story Behind the Product This factory is located in the Guangdong region of mainland China. The father is the main person in charge and employs many family members. Day to day operations are run by an aunt while the son is being groomed to take over once his father retires - all of this family greatly adds to the quality and productivity of this factory. Over 300 skilled and non-skilled craftsman work together, passing knowledge and craftsmanship from generation to generation. The working conditions of this group are excellent. The factory provides an excellent lunch each day for the staff. Attending strictly to the local and international anti-dumping and fair trade practice laws, Oriental Homes is proud to bring a piece of their culture into your home. What is Worldstock? The handcrafted touch of artisan skill creates variations in color, size and design. If buying two of the same item, slight differences should be expected. Note: Color discrepancies may occur between this product and your computer screen. Imported Ships Carbon Neutral*

Sunset Trading Manhattan China Cabinet

Sunset Trading Manhattan China Cabinet

$2,358.00

Sunset Trading Since 1992, American based Sunset Trading has grown to become a respected leader in the home furnishings industry, built on core values of honesty, integrity, and respect. Sunset trading strives to provide a unique combination of style, selection, and quality, all with incredible value and unsurpassed customer service. Rest assured, your order will be processed and handled by a knowledgeable and dedicated staff located at Sunset Trading's distribution center in Manchester, New Hampshire. Your exact selection undergoes a rigorous ten-step inspection process, is shipped within 24 to 48 hours and will arrive to you ready to enjoy! Sunset Trading's care and attention to detail meets and exceeds industry standards, making the name Sunset Trading synonymous with the highest standard for customer satisfaction and dedication, by providing you, the customer, with creative, innovative designs at the best available prices. Sunset Trading is so confident you will be happy with your furniture selection, they provide a full two year warranty on all products!

Broyhill Northern Lights Display Stand

Broyhill Northern Lights Display Stand

$1,029.99

BRH2322FeaturesProduct Type: Display standDesign: StandardStyle (Old): ContemporaryFinish: Dark WalnutMaterial: Wood DimensionsOverall Height - Top to Bottom: 67"Overall Width - Side to Side: 52"Overall Depth - Front to Back: 18"Overall Product Weight: 272 lbs

Tall Black Lacquer Curio Cabinet - Mother of Pearl Ladies (China)

Tall Black Lacquer Curio Cabinet - Mother of Pearl Ladies (China)

$1,640.00

An exceptionally beautiful, hand crafted Asian design curio cabinet, with stunning, hand carved oriental ladies applique and hand painted detail. Heirloom quality craftsmanship; cabinet finished in an outstanding 12 coat high luster black lacquer; also beautifully finished inside. Mirrored back, with removable lacquered wood frame glass shelves allowing the built in top light to shine down through the entire cabinet, revealing your treasured collectibles. Product Features: Colors: Black, Gold, White Frame materials: Elm Wood, Glass Finish: Lacquer Glass Special Features: Beveled Glass Hand carved Mother of Pearl inlay Number of shelves: 6 Number of doors: 4 Number of drawers: 2 Dimensions: 78 inches high x 30 inches wide x 15 inches deep Story Behind the Art: This handcrafted item and many others come from a third generation family run workshop in mainland China. Their skills of hand-painting, hand-rubbed lacquering, and hand-tooling have been passed down for many generations. We are proud to support them in their quest to keep their age-old techniques alive for future generations. Many of the artists are hired out of semi-retirement to work from home training the next generation to become master craftsmen. These masters are highly respected in their craft and their culture which have survived through many Chinese dynasties and continue to produce valuable and desirable pieces for your home decor. What is Worldstock? The handcrafted touch of artisan skill creates variations in color, size and design. If buying two of the same item, slight differences should be expected. Note: Color discrepancies may occur between this product and your computer screen. Imported

Rosewood Long Life Display Cabinet (China)

Rosewood Long Life Display Cabinet (China)

$544.00

Solidly handcrafted from fine quality, dark cherry stained Rosewood, this cabinet shows unique 'Shou' symbol medallions, and intricately carved geometric 'key' designs. This Oriental tea chest also features a durable medium gloss clear lacquer. Product Features: Colors: Rosewood Finish: Cherry stain 'Key' designs on center and side rails 'Shou' medallions Number of doors: Two Materials: Kiln-dried rosewood Dimensions: 34 inches high x 30 inches wide x 10 inches deep Story Behind the Art: This handcrafted item and many others come from a third-generation family-run workshop in mainland China. Their skills of hand-painting, hand-rubbed lacquering and hand-tooling have been passed down for many generations. We are proud to support them in their quest to keep their age-old techniques alive for future generations. Many of the artists are hired out of semi-retirement to work from home, training the next generation to become master craftsmen. These masters are highly respected in their craft and their culture which have survived through many Chinese dynasties and continue to produce valuable and desirable pieces for your home decor What is Worldstock? The handcrafted touch of artisan skill creates variations in color, size and design. If buying two of the same item, slight differences should be expected. Note: Color discrepancies may occur between this product and your computer screen. Imported Ships Carbon Neutral*

American Drew Cherry Grove Canted China Cabinet

American Drew Cherry Grove Canted China Cabinet

$3,260.00

Coaster Alexander Traditional China Cabinet

Coaster Alexander Traditional China Cabinet

$2,199.00

American Drew Cherry Grove Breakfront China Cabinet with 4 Doors

American Drew Cherry Grove Breakfront China Cabinet with 4 Doors

$3,465.00

Coaster Anson China Cabinet with Five Glass Doors

Coaster Anson China Cabinet with Five Glass Doors

$1,239.00

American Drew Camden White Curio China Cabinet

American Drew Camden White Curio China Cabinet

$1,995.00

American Drew Cherry Grove Corner China Cabinet

American Drew Cherry Grove Corner China Cabinet

$2,315.00

American Drew Antigua China Cabinet in Toasted Almond

American Drew Antigua China Cabinet in Toasted Almond

$2,520.00

D-Art Rococo China Cabinet (Indonesia)

D-Art Rococo China Cabinet (Indonesia)

$1,766.99

This gorgeous china glass cabinet is made of mahogany wood. It has a curved glass door to protect your collection from dust. It also has mirror on the back of the china. Product Features: Set includes: One (1) Materials: Mahogany wood Finish: Dark brown Dimensions: 59 inches high x 48 inches wide x 20 inches deep Story Behind the Art: hand-crafted furniture has been a family trade for 4 decades. A trade passed on from father to son. Since the very first armoire made, now dating back to the 1972 to our current line of home decor. D-Art Collection passion has always been the utmost of high quality and standard. From hand-crafted traditional tools to modern day machines that help transform woods such as Mahogany and Teak into beautiful furniture. Our wood is kiln-dry and jointed by mortise tendon for long last construction. D-Art Collection furniture will make your home cozy, elegant, and classy. What is Worldstock? The hand-crafted touch of artisan skill creates variations in color, size and design. If buying two of the same item, slight differences should be expected. Note: Color discrepancies may occur between this product and your computer screen. Imported

Coaster Newhouse Buffet and Hutch China Cabinet in Cherry Finish

Coaster Newhouse Buffet and Hutch China Cabinet in Cherry Finish

$992.69

Cherry finish Constructed of wood solids and birch veneers Contemporary style Smooth clean edges, shapely cabriole legs Two Drawers Two Doors Two Doors with Two Shelves Inside Wood on wood center glides Brass finish hardware Specifications: Overall dimensions: 80H x 18W x 49D inches

American Drew Camden Black Bookcase China Cabinet

American Drew Camden Black Bookcase China Cabinet

$1,630.00

Royal Traditions China Cabinet with Mirrored Back

Royal Traditions China Cabinet with Mirrored Back

$2,319.00

Homelegance Lordsburg China Cabinet

Homelegance Lordsburg China Cabinet

$1,598.00

BOME2209FeaturesLordsburg collectionFinish: Dark brownDistressed: YesProduct Type: China cabinetDesign: StandardFinish: Dark brownHardware Finish: Silver DimensionsOverall Height - Top to Bottom: 83.75"Overall Width - Side to Side: 60.25"Overall Depth - Front to Back: 19.5"Overall Product Weight: 358.6 lbs

American Drew Camden Black China Cabinet

American Drew Camden Black China Cabinet

$1,995.00

Hodedah HIK94 Kitchen Cabinet

Hodedah HIK94 Kitchen Cabinet

$114.26

HODE1056FeaturesGreat for extra storage in the kitchen and dining roomCabinet does not have a hole for a cordCan accommodate a microwave on countertopBottom cabinet includes 1 shelfCannot be sanded or paintedDesign of the cabinet doors and drawer front is checkeredProduct Type: China cabinetDesign: StandardMaterial: Wood DimensionsCountertop: 20" H x 27" W x 16" DClearance from bottom of cabinet to floor: 4"Weight limit for each shelf: 40 lbsOverall Height - Top to Bottom: 67"Overall Width - Side to Side: 27"Overall Depth - Front to Back: 16"Overall Product Weight: 88.18 lbs

Riverside Belize China Cabinet

Riverside Belize China Cabinet

$1,523.25

Coaster Avery China Cabinet with Three Drawers

Coaster Avery China Cabinet with Three Drawers

$1,289.00

American Drew Cherry Grove New Generation Corner China Cabinet

American Drew Cherry Grove New Generation Corner China Cabinet

$1,680.00

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Vacation Home Furniture
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