New Home Sales Plunge 6.6%

New home sales plunged 6.6% in June, the Commerce Department said Thursday.

The decline, the most since January, was to an annual rate of 834,000 from 893,000 in May, Commerce said.

The drop was more than economists’ forecasts of a decline to 890,000, Bloomberg reported.

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.