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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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Sofas For Your Vacation Home


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Black Sofa / Console Table with Glass Insert Top and Drawer

Black Sofa / Console Table with Glass Insert Top and Drawer

$161.64

Espresso Sofa / Console Table with Glass Insert Top and Drawer

Espresso Sofa / Console Table with Glass Insert Top and Drawer

$161.64

Black Sofa / Console Table with Full Wood Top and Drawer

Black Sofa / Console Table with Full Wood Top and Drawer

$156.99

Espresso Sofa / Console Table with Full Wood Top and Drawer

Espresso Sofa / Console Table with Full Wood Top and Drawer

$156.99

Mission Black Sofa / Console Table

Mission Black Sofa / Console Table

$205.40

Mission Espresso Sofa / Console Table

Mission Espresso Sofa / Console Table

$205.40

Wooden Mallet DW2-4 Solid Oak Sled Base 4-Seat Sofa

Wooden Mallet DW2-4 Solid Oak Sled Base 4-Seat Sofa

$451.27

About Wooden Mallet For over 20 years, Wooden Mallet has been turning Northern Red Oak into beautiful and functional American-made wood products for commercial and residential settings. Wooden Mallet manufactures and distributes various styles of magazine and brochure display racks, chart holders, luggage racks, coat and hat racks, and reception chairs and tables crafted from solid oak sides and components. In addition to a technological manufacturing process, Wooden Mallet also employs a unique finishing process using ultraviolet light to cure the finish into the wood for a more durable, lasting finish. This process meets the emission standards set by the Environment Protection Agency. For the past 10 years, Wooden Mallet has ranked consistently in the top 100 of the Wood & Wood Products, Wood 100 Annual Report for Solid Wood and Panel Technology. Solid oak frame construction with plastic seat base Available in a variety of wood finishes Contemporary sofa with sled base Choose from various standard fabrics or antimicrobial vinyls Dimensions: 83W x 23.25D x 33.5H inches

Armen Living Draper 1097 Sofa in Azure

Armen Living Draper 1097 Sofa in Azure

$1,309.00

Armen Living Draper 1097 Sofa in Cumin

Armen Living Draper 1097 Sofa in Cumin

$1,309.00

Armen Living Garbo 1046 Sofa

Armen Living Garbo 1046 Sofa

$1,470.00

Lido Console / Sofa Table

Lido Console / Sofa Table

$315.86

Armen Living Midtown Sofa - Rich Brown Fabric

Armen Living Midtown Sofa - Rich Brown Fabric

$1,100.00

Groovystuff Sierra Sofa Table

Groovystuff Sierra Sofa Table

$1,249.99

Groovystuff Atlantis Sofa Table

Groovystuff Atlantis Sofa Table

$1,294.41

Magnussen Wood & Metal Rectangular Sofa Table Rustic Pine

Magnussen Wood & Metal Rectangular Sofa Table Rustic Pine

$399.99

Magnussen Areva Rectangular Sofa Table Merlot

Magnussen Areva Rectangular Sofa Table Merlot

$439.99

Magnussen Wood & Glass Demilune Sofa Table Ebonized Black Cherry

Magnussen Wood & Glass Demilune Sofa Table Ebonized Black Cherry

$349.99

Magnussen Lawton Rectangular Sofa Table Natural Pine

Magnussen Lawton Rectangular Sofa Table Natural Pine

$349.99

Magnussen Ombrio Rectangular Sofa Table Cherry

Magnussen Ombrio Rectangular Sofa Table Cherry

$299.99

Abbyson Living Sedona 3PC Leather Sofa, Loveseat, and Armchair Set

Abbyson Living Sedona 3PC Leather Sofa, Loveseat, and Armchair Set

$2,472.63

Zuo Button Sofa with Wood Legs

Zuo Button Sofa with Wood Legs

$1,778.00

Kathy Ireland New York Skyline Laptop Sofa Table in Modern Mocha

Kathy Ireland New York Skyline Laptop Sofa Table in Modern Mocha

$194.13

Kathy Ireland New York Skyline Laptop / Sofa Table in Plumeria White

Kathy Ireland New York Skyline Laptop / Sofa Table in Plumeria White

$194.13

Kathy Ireland Grand Expressions Laptop / Sofa Table in Warm Molasses

Kathy Ireland Grand Expressions Laptop / Sofa Table in Warm Molasses

$216.53

Kathy Ireland Volcano Dusk Laptop / Sofa Table with Storage in Driftwood Dreams

Kathy Ireland Volcano Dusk Laptop / Sofa Table with Storage in Driftwood Dreams

$214.67

Kathy Ireland Volcano Dusk Laptop / Sofa Table with Storage in Kona Coast

Kathy Ireland Volcano Dusk Laptop / Sofa Table with Storage in Kona Coast

$214.67

Whitney Bros Child's Easy Sofa in Tan

Whitney Bros Child's Easy Sofa in Tan

$305.88

Whitney Bros Economy Sofa, Chair and Coffee Table Set

Whitney Bros Economy Sofa, Chair and Coffee Table Set

$379.00

Denmark Multi-Position Leather Sofa Convertible with Pillows

Denmark Multi-Position Leather Sofa Convertible with Pillows

$699.99

Lifestyles Signature Romeo Sofa Bed Dark Brown

Lifestyles Signature Romeo Sofa Bed Dark Brown

$461.53

Serta Boca Convertible Sofa in Charcoal Tweed Fabric

Serta Boca Convertible Sofa in Charcoal Tweed Fabric

$649.99

Butler Nickel Finish Aluminum, Iron and granite Top Console/Sofa Table

Butler Nickel Finish Aluminum, Iron and granite Top Console/Sofa Table

$348.00

Catnapper Impulse Motion Sofa in Cafe

Catnapper Impulse Motion Sofa in Cafe

$849.00

Atlanta Braves MLB Classic Sofa

Atlanta Braves MLB Classic Sofa

$869.00

Chicago Cubs MLB Classic Sofa

Chicago Cubs MLB Classic Sofa

$869.00

Los Angeles Dodgers MLB Classic Sofa

Los Angeles Dodgers MLB Classic Sofa

$869.00

Pittsburgh Pirates MLB Classic Sofa

Pittsburgh Pirates MLB Classic Sofa

$869.00

Verona I Linda Sofa and Loveseat Set in Key West Umber

Verona I Linda Sofa and Loveseat Set in Key West Umber

$1,359.98

Klaussner Sequoia Sofa Table

Klaussner Sequoia Sofa Table

$317.41

Verona I Salem Sofa and Loveseat Set

Verona I Salem Sofa and Loveseat Set

$1,799.98

Verona III Ernie Sectional Sofa with Ottoman

Verona III Ernie Sectional Sofa with Ottoman

$1,629.00

Catnapper Dallas 3pc Leather Sofa Set

Catnapper Dallas 3pc Leather Sofa Set

$3,587.00

Verona II Lois Sofa and Chair Set

Verona II Lois Sofa and Chair Set

$2,058.00

Jackson Horizon Poppy Sofa with Suede Fabric

Jackson Horizon Poppy Sofa with Suede Fabric

$669.00

Jackson Horizon Sofa with Suede Fabric

Jackson Horizon Sofa with Suede Fabric

$669.00

Jackson Horizon Port 3pc Sofa Set with Accent Chair

Jackson Horizon Port 3pc Sofa Set with Accent Chair

$1,817.00

Jackson Horizon Poppy 3pc Sofa Set with Accent Chair

Jackson Horizon Poppy 3pc Sofa Set with Accent Chair

$1,817.00

Jackson Furniture Perimeter Contemporary Sofa

Jackson Furniture Perimeter Contemporary Sofa

$669.00

Jackson Furniture Keaton Contemporary Sofa with Cafe Fabric

Jackson Furniture Keaton Contemporary Sofa with Cafe Fabric

$628.00

Jackson Furniture Keaton Contemporary Sleeper Sofa

Jackson Furniture Keaton Contemporary Sleeper Sofa

$949.00

Jackson Anniston Chenille Sofa

Jackson Anniston Chenille Sofa

$839.00

Jackson Bradley Traditional Sofa

Jackson Bradley Traditional Sofa

$759.00

Jackson Furniture Mesa Contemporary Sofa in Sage

Jackson Furniture Mesa Contemporary Sofa in Sage

$719.00

Jackson Furniture Oxford Cognac Sofa

Jackson Furniture Oxford Cognac Sofa

$689.00

Jackson Furniture Everest 2PC Chaise Sofa

Jackson Furniture Everest 2PC Chaise Sofa

$1,329.00

Coaster Casual Sofa Bed in Red

Coaster Casual Sofa Bed in Red

$519.00

Jackson Furniture Hartwell Sofa

Jackson Furniture Hartwell Sofa

$839.00

Coaster Black Sofa Bed with Flip Down Tray

Coaster Black Sofa Bed with Flip Down Tray

$469.00

Jackson Furniture Whitney Contemporary Sofa

Jackson Furniture Whitney Contemporary Sofa

$809.00

Jackson Furniture Brantley Java Sofa

Jackson Furniture Brantley Java Sofa

$759.00

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