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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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Ski Poles


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Rossignol Women's Freeride W 80 Ski Poles

Rossignol Women's Freeride W 80 Ski Poles

$58.95

The Rossignol Freeride W 80 Ski Poles
Rossignol Men's SAS Pro Ski Poles

Rossignol Men's SAS Pro Ski Poles

$58.95

A jib stick like none before, the Rossignol SAS Pro Ski Pole is light and grippy for both the park and the backcountry. Yes, we said both.
K2 Men's V4 Ski Poles

K2 Men's V4 Ski Poles

$33.95

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Komperdell Leather Snowbaskets for Ski and Trekking Poles

Komperdell Leather Snowbaskets for Ski and Trekking Poles

$19.95

CLOSEOUTS . When deep powder calls, respond with Komperdell's leather snowbaskets for ski and trekking poles. Large size provides excellent support Convert summer trekking poles into winter-time poles Designed for use with Komperdell ski and trekking poles Sold as a pair Depth: 3/8" Diameter: 5-1/8" Weight: 3.6 oz. pr. Material: Leather and polymer By Komperdell of Austria Made in Austria.
Rossignol Kid's Viper Jr Ski Poles 28In/70cm

Rossignol Kid's Viper Jr Ski Poles 28In/70cm

$20.95

All mountain junior ski pole
Rossignol Kid's Viper Jr Ski Poles

Rossignol Kid's Viper Jr Ski Poles

$20.95

All mountain junior ski pole
Rossignol Kid's Viper Jr Ski Poles

Rossignol Kid's Viper Jr Ski Poles

$20.95

All mountain junior ski pole
Rossignol Kid's Viper Jr Ski Poles 28In/70cm

Rossignol Kid's Viper Jr Ski Poles 28In/70cm

$20.95

All mountain junior ski pole
Rossignol Kid's Viper Jr Ski Poles

Rossignol Kid's Viper Jr Ski Poles

$20.95

All mountain junior ski pole
Rossignol SAS Ski Poles

Rossignol SAS Ski Poles

$59.95

Same as 73441?
Rossignol SAS Ski Poles

Rossignol SAS Ski Poles

$59.95

Same as 73441?
Rossignol SAS Ski Poles

Rossignol SAS Ski Poles

$59.95

Same as 73441?
Rossignol Men's SAS Ski Poles

Rossignol Men's SAS Ski Poles

$41.95

Freestyle in the backcountry by morning, jib in the park by afternoon, the Rossignol SAS Ski Poles can do it all. The ultimate jib stick, whatever your terrain.
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Choose Your Activity
Golf Hiking Skiing Water Sports
Games Fishing Exploring Cycling