Sales of new homes fell for a third straight month in June, dropping by 6.6 percent to the lowest level in more than a year, while the median new house price fell by 5 percent month-over-month, according to a government report. A Commerce Department report (pdf) released Monday showed that new home sales fell to a seasonally adjusted annual rate of 676,000 in June, which is 6.6 percent below the May rate and 19.4 percent below the June 2020 level of 839,000. Economists polled by Reuters predicted new home sales to rise 3 percent in June. Massive fiscal policy and historically low mortgage rates have fueled demand for housing, further boosted by the pandemic as millions of Americans worked from home and took online classes. But supply has lagged behind, with builders constrained by soaring lumber prices as well as shortages of other building materials, household appliances, land, and labor. …