The Real Deal New York

U.S. new home sales fall in July

Annualized rate sinks to 412,000, lower than expected
By Business Insider | August 25, 2014 05:15PM

The pace of new home sales fell 2.4% to an annualized rate of 412,000 units in July. Economists were expecting a pace of 429,000 units.

June’s report, however, was revised up to 422,000 from an earlier estimate of 406,000. The median sales price was $269,800, and the average price was $339,100. According to the Census, there is a 6.0 month supply of homes available for sale, up from 5.6 months in June.

Here’s a regional breakdown: