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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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Hiking Gear - E-Shot Energy Boost Drinks - 12-Pack, 2 fl.oz.


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E-Shot Energy Boost Drinks - 12-Pack, 2 fl.oz.

E-Shot Energy Boost Drinks - 12-Pack, 2 fl.oz.
CLOSEOUTS . Free of sugar, E-Shot's Energy Boost 2 fl.oz. drinks rely on a special blend of vitamins and enzymes to crank up your energy to top speed. 12-pack 12 calories per serving (2 fl.oz. serving size) Ingredients: Carbohydrates: 1g Sugars: 0g Sugar alcohols: 1g Sodium: 24mg Niacin: 33mg Vitamin B6 40mg Vitamin C: 100mg Folic acid: 400mg Vitamin B12: 500mg Energy blend: 2100mg (glucoronolactone, n-acetyl ltyrosine, taurine, caffeine, green tea leaf extract, malic acid) Enzyme blend: 1mg (amylase, protease, lipase, cellulase, lactase) Other ingredients: Purified water, glycerol, natural and artifical flavor, potassium sorbate, sodium benzoate, sodium citrate, sucralose, xanthan gum, artifical color FDandC yellow #5 and blue #1 Weight: 1 lb. 15 oz. Material: Composite Made in USA Available Colors: LEMON LIME, VERY BERRY.

$19.95
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