Sales of newly built single-family homes surged 8.3 percent to a seasonally adjusted annual rate of 497,000 units in June, the fastest pace in the last five years, according to data released today by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Three out of four regions saw solid gains in new-home sales activity last month, with the Northeast, South and West posting increases of 18.5 percent, 10.9 percent and 13.8 percent, respectively. The Midwest posted an 11.8 percent decline following an above-trend bump in activity in May, according to the National Association of Home Builders. The inventory of new homes for sale declined to 161,000 units in June, marking a 3.9-month supply at the current sales pace, the lowest level since March 2004, the home builders group said.