That's a bummer.
JPMorgan reported Wednesday morning that new single-family home sales fell in June. In total, the sales fell 5.3%, which was disappointing when compared to strong May numbers.
"Price data in the new home sales report also have looked weak lately, with the median sale price down 4.2% [over a year ago] in June," said JPMorgan in its note.
JPMorgan expects "real residential investment will be basically flat in Q2...but our tracking of real GDP growth for the quarter remains at 4.4% [seasonally adjusted annual rate] after rounding," it continued.
"June's sale pace disappointed expectations," the note stated.