New Home Sales Solid in July, as June Numbers Strongly Revised Upward
Washington, D.C. -- Sales of newly built, single-family homes fell 12.8% to a seasonally adjusted annual rate of 635,000 units in July off a strongly revised upward reading in June, according to recently-released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. On a year-to-date basis, new home sales for 2019 are 4.1% higher than the same period in 2018.
"Builder confidence continues to trend upward as lower interest rates provide for more favorable buying conditions," said Greg Ugalde, chairman of the National Association of Home Builders (NAHB).