ROUNDUP New-Home Sales OH 0.1%  
a Sales of new homes fell a slight 0.1 percent in June as a big drop in activity in the Northeast overshadowed a gain in the South, the government reported yesterday.</br></br>New single-family homes were sold at an annual rate of 669,000 units in June following a 5.7 percent May increase, according to a report by the departments of Commerce and Housing and Urban Development.</br></br>While sales last month were 5 percent above the level of a year ago, the slight decline from the May sales pace surprised many analysts because interest rates have dropped sharply in recent months and now stand at their lowest level in five years.</br></br>Only in the South, where half of new homes were sold last year, did sales increase, growing by 8.8 percent in June. The median price of a new home rose in June by 6.9 percent to $85,300. The average price pf a home also was up last month, to $99,200, a 1 percent gain.</br></br>ÐÊ	Directors of Storer Communications yesterday rejected a merger offer from a small Pennsylvania cable television company after the New York investment group of Kohlberg Kravis Roberts and Co. upped its cash offer to $91 a share.