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U.S. new home sales tumble 8.1% in June to 406,000

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Investing.com -

Investing.com - U.S. new home sales fell significantly more than expected in June, dampening optimism over the health of the housing sector, official data showed on Thursday.

In a report, the U.S. Commerce Department said new home sales dropped by 8.1% to a seasonally adjusted 406,000 units last month, worse than expectations for a decline of 5.3% to 479,000.

New home sales in May were revised down to 442,000 units from a previously reported 504,000 units.

Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD easing up 0.04% to trade at 1.3467.

Meanwhile, U.S. stock markets were higher after the open. The Dow picked up 0.15%, the S&P 500 tacked on 0.15%, while the NASDAQ Composite rose 0.1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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