Sales of new homes fell in July
Sales of new single-family homes across the United States in July fell more than 2 percent over June, although they were up 12.3 percent from July of last year, the government said Monday.
The Census Bureau and the Department of Housing and Urban Development said sales were at a seasonally adjusted annual rate of 412,000, below market expectations of 427,000, according to Yahoo Finance, but up from an initial estimate of 406,000.
The number of sales was down in all regions of the U.S. except the South. The Northeast suffered the biggest year-over-year drop, 43.8 percent, with only about 18,000 sales, the government said.
The national median sale price of new homes sold last month was $269,800, and the average sale price was $339,100, the government reported.
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