New house sales turned sharply lower last month, and home builders blame escalating trade tensions for the weak showing. Still, sales in the Northeast soared.

The sale of newly constructed single-family homes worked out to 57,000 units during June, according to data jointly reported Wednesday by the Census Bureau and the Department of Housing and Urban Development.

Including the most-recent activity, historical data indicate there have been 349,000 new houses that have been sold from Jan. 1 through the mid-point of this year.


Source: Mortgage Daily