US home sales growing at slowest rate

According to the official figures, the new home sales in US have climbed up sharply in the month of June as compared to its previous month despite of that rise of the home sales rate. However, the pace of rate was the second slowest ever.

The US Department of Commerce unveiled that the home sales rose up to 330,000 in the month of June which was a huge rise than the sales of 267,000 in May. This May had been the worst month for the US home sales ever in history.

The sales figure of the month June was also the second lowest rate since 2963, when this record began.

The housing market is struggling since April after the tax credits for the home buyers were removed. Some of the market experts say this slow rate of home sales is also result of the uncertainty of the US economy, growing rate of unemployment and the harder credit condition, which made the home buyers to pull out from the deals. The home sales had seen its highest rate of 1.39 million in the July of 2005.