June New-House Sales Up 8.4%

Booming business in the West and Northeast pushed sales of new single-family houses up 8.4% in June, the Commerce Department said today.

It was the biggest increase since an 11.9% hike in February. Sales of new single-family homes were at a seasonally adjusted annual rate of 734,000 in June, contrasted with 677,000 in May when sales dipped 0.6%, according to the department’s Census Bureau. The median sales price was $117,800 and the average sales price was $141,200. The steepest sales increase in June occurred in the West--up 28.9% from May.