WRAPUP 2-U.S. new home sales shine in June; business activity picks up

(Adds details, analyst comments, updates markets)

* New home sales increase 13.8{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} in June; May revised up

* Median new home price rises 5.6{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} from year ago

* Business activity picks up in July

By Lucia Mutikani

WASHINGTON, July 24 (Reuters) – Sales of new U.S. single-family homes raced to