U.S. Home Sales Down in July

U.S. sales of new single-family homes in July were at a seasonally adjusted annual rate of 511,000, decreasing 12.6% from June and 29.6% lower than the comparable month last year.

The seasonally adjusted estimate of new homes for sale at the end of July was 464,000, representing a 10.9-month supply at the current sales rate. See U.S. Census Bureau

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