NEW HOME SALES FALL

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 $US269,800, and the average price was $US339,100.

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:

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