Sales of U.S. New Homes Unexpectedly Fall to Seven-Month Low

Purchases of new U.S. homes unexpectedly retreated in June and prior readings were revised down, painting a picture of less robust improvement during the industry’s busiest time of year.

Sales fell 6.8 percent to a 482,000 annualized pace, the weakest since November and lower than any forecast of economists surveyed by Bloomberg, Commerce Department figures showed Friday in Washington. Three of four regions suffered setbacks.