New-Home Sales Fall To New Low

Sales of new single-family houses in July were at a seasonally adjusted annual rate of 276,000, according to estimates released jointly Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development. July's total was 12.4% below the revised June rate of 315,000 and 32.4% below the July 2009 estimate of 408,000.

The median sales price of new houses sold last month was $204,000, according to the government report, with the average sales price being $235,300.

The seasonally adjusted estimate of new houses for sale at the end of July was 210,000, which represents a supply of 9.1 months at the current sales rate.

SOURCE: U.S. Census Bureau


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