New Home Sales Grow in June

New home sales increased 24% in June following a large decrease the month before, the Commerce Department said Monday.

Sales grew to an annual rate of 330,000 units, Commerce said. Sales had fallen to a revised record low of 267,000 in May after the first-time homebuyer tax credit expired.

The rate was higher than economists’ forecasts of a 310,000 annual rate, Bloomberg reported.

Sales increased in three out of four regions, led by a 33% increase in in the Northeast. Sales fell in the West to a 57,000 annual rate, a record low.

Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.

New home sales account for about 15% of residential real estate sales.