Sales of new single-family houses in July were at a seasonally adjusted annual rate of 571,000, a 9.4 percent decrease compared with the June rate of 630,000 and 8.9 percent below July 2016’s rate of 627,000, according to the U.S. Census Bureau.
"The year-to-date growth shows that new home sales continue to trend upward at a steady pace over the longer term," said NAHB Senior Economist Michael Neal in a statement. "Steady economic growth and a healthier labor market suggest that the underlying economic fundamentals remain in place for a continued recovery."
The median sales price of homes sold in July was $313,700, up less than 1 percent from June’s median price of $311,600 and up 6.3 percent from July 2016’s median price of $295,000.
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