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July US New-Home Sales Decline Much More Than Expected, Down Year-Over-Year

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US new-home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 rate in June, below the 620,000-rate expected in a survey compiled by Bloomberg as of 7:40 am ET.

Home sales were down 6.3% from July 2025.

The supply of homes available for sale rose by 1.9% to 488,000, down 1.6% from a year ago.

The median sales price decreased to $393,800 from $403,100 in July, below the $397,300 level a year ago.

The monthly new-home sales report from the US Commerce Department measures sales of new single-family homes at the time of the contract signing.

The report includes the number of new homes available for sale and the median sales price. A strong reading is a positive sign for mortgage lenders, home builders and related consumer product companies.

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