Sales of new U.S. homes rose 8.3% to an annual rate of 497,000 in June to mark the highest level in more than five years, the government said Wednesday. Economists polled by MarketWatch forecast sales to edge up to a seasonally adjusted 483,000. Sales in May, however, were revised down to a 459,000 annual rate from an initially reported 476,000, based on more complete information collected by the Census Bureau. Demand in June was strongest in the Northeast, where sales climbed 18.5%. Sales were also brisk in the South and West, falling only in the Midwest. The median price of new homes dropped 5% to $249,700 last ... (full story)