New Home Sales Pull Back in July After Strong Spring Buying Season

Sales of newly built, single-family homes in July fell 9.4% to a seasonally adjusted annual rate of 571,000 units from an upwardly revised June reading, according to newly released data by HUD and the U.S. Census Bureau. This was the lowest sales reading since December 2016. Meanwhile, year-to-date, new home sales are 9.2% above their level over the same period last year.

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