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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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Freshwater and Saltwater Fishing Reels


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Penn Conflict Spinning Reel - Model CFT3000

Penn Conflict Spinning Reel - Model CFT3000

$139.99

"Lightweight, smooth, and sleek, the PENN Conflict was designed for the technical inshore angler who isooking for a step up in performance when compared to the Battle it's aittleighter than the Battle, and puts out a bit more drag power. It's st

Shakespeare Catch More Fish Rod and Reel Combo for Bass

Shakespeare Catch More Fish Rod and Reel Combo for Bass

$29.99

Shakespeare understands that if kids can catch fish more easily, they'll be moreikely to enjoy themselves. Beginning anglers will catch more fish and have more fun with the Catch More Fish Combos. They make getting into fishing easy because they're"

Shakespeare Ugly Stik Spinning Rod and Reel Combo Kit

Shakespeare Ugly Stik Spinning Rod and Reel Combo Kit

$29.99

"A classic Shakespeare Ugly Stik Spinning Rod and Reel Combo Kit that's perfect for beginners and experts alike. This combo kit includes aightweight, graphite composite, two-piece Ugly Stik that sports a comfortable "Ugly Tuff" foam handle and a c

Shimano Spirex FG Front Drag Spinning Reel - SR1000FG

Shimano Spirex FG Front Drag Spinning Reel - SR1000FG

$59.99

"Rock-solid reliability meets advanced technology, now that the acclaimed Propulsionine Management System has become standard even on the modestly-priced Shimano Spirex FG Spinning Reel. One of Shimano's best-selling S Concept reels, it's the hands

"Wright & McGill Plunge Fly Fishing Rod and Reel Outfit with Accessories - 8'6

"Wright & McGill Plunge Fly Fishing Rod and Reel Outfit with Accessories - 8'6

$159.99

"The Wright amp; McGill Plunge Fly Fishing Rod and Reel Outfit with Accessories offers everything you need to get into fly fishing: four-piece graphite fly rod, arge-arbor fly reel, floating flyine, backing, taperedeader, nippers, drop shot dispe

Penn Squall Lever Drag Reel - SQL30LD

Penn Squall Lever Drag Reel - SQL30LD

$159.99

"Packed with superb features, the Squallever Drag is at the cutting edge of PENN's industry-leading technology! The Versa-Handle systemets you adjust power and speed in under a minute, and the frame-flush ratchetingever drag is rock-solid and er

PENN Spinfisher V Spinning Reel - Model SSV3500

PENN Spinfisher V Spinning Reel - Model SSV3500

$139.99

"One of the most recognized and accomplished saltwater spinning reels in the world, the PENN Spinfisher is a real workhorse. The PENN Spinfisher V builds on thategacy with a full metal body, sideplate and rotor plus a water-tight design that keeps s

Zebco 33 Spincast Rod and Reel Combo with Bonus Reel

Zebco 33 Spincast Rod and Reel Combo with Bonus Reel

$39.99

"A favorite for generations, the Zebco 33 spincast fishing reel is better than ever and with this combo, you get an extra reel to use as a backup or give to a fishing buddy! The reel features durable and precise all-metal gears, a ball-bearing drive,

Shimano Calcutta B Round Baitcast Reel - Model CT400B

Shimano Calcutta B Round Baitcast Reel - Model CT400B

$239.99

"The Calcutta B features quality A-RB Anti-Rust Bearings to ensure years of smooth, trouble-free performance, higher gear ratios, and easy access to the Variable Brake System (VBS) for easy cast control. As before, the forged 1-piece aluminum frame wi

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