US New Home Sales Unexpectedly Tumbled In June As Homebuyer Confidence Crashes To Record Low

US New Home Sales Unexpectedly Tumbled In June As Homebuyer Confidence Crashes To Record Low:

After a disappointing dump in existing home sales in June, new home sales just confirmed the slowdown, dropping 0.6% MoM (notably below the 3.4% MoM expected) and also saw a major downward revision in May from -11.3% MoM to -14.9% MoM. That leaves new home sales down 7.4% YoY…

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