US new sales July 0.652M versus 0.630M estimate ...Middle East

Prior month 0.656MNew-home sales 0.652 million versus 0.630 million estimate.New-home sales -0.6% month on month versus a gain of 4.1% last month.The prior month was revised higher to 0.656 million from 0.627 million previously reported.New-home sales down -8.2% year on yearMortgage rates at the time were above 6.75%. So it was not represented in these numbersmedian price $403,800. Month to month -0.8%. Year on year -5.9% ($429,000)average sale price $487,300. This is -3.6% below the June 2025 price of $505,305% below the July 24 price of $513,200Supply of homes is 9.2 months down from 9.8 months

Builders are having to discount the sale price to attract buyers. However, of note is that the numbers this month came before the dip in rates which took the mortgage rate back down toward 6.5%.

This article was written by Greg Michalowski at investinglive.com.

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