US New-Home Sales Beat Forecasts, Rise 1.6% in June

New-home sales in the U.S. rose to a seasonally adjusted annual rate of 628,000 in June, the Commerce Department said. The reading topped the 610,000 estimate from economists surveyed by Bloomberg.

Sales increased 1.6% from the prior month, compared with a 4.3% drop in May. The May figure was revised higher to 618,000 from an initial 580,000.

The June data suggest the housing market found some footing after a weak spring. Mortgage rates have eased from their 2024 highs, though affordability remains a constraint for many buyers. Builders have been offering incentives to move inventory, and the pickup in new-home sales tracks with a recent uptick in builder confidence.

May's revision added 38,000 units to the previously reported total, a substantial adjustment that lifted the second-quarter sales pace. For more on how housing data moves currency markets, see our forex market analysis.