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New home sales fall as July median price hits a five-year low
July new home sales dropped to a 607,000 seasonally adjusted annual rate, down 10.5% from June, while supply rose to 9.6 months.
HousingWire reports that U.S. Census Bureau data show July 2026 new single-family home sales fell to a seasonally adjusted annual rate of 607,000, down 10.5% from June’s pace and 6.3% lower than a year earlier.
The report said the median price of newly constructed homes slipped to $393,800 in July, the lowest level recorded since July 2021, while supply increased to 9.6 months.
HousingWire attributed the slowdown to affordability constraints and cautious homebuyer behavior amid elevated mortgage rates, which ticked up since the second week of July.
Robert Dietz, chief economist at the National Association of Home Builders, said the market is on track for a second consecutive annual decline in 2026, and the story added that builders have leaned on rate buydowns, incentives, and price cuts to support monthly payments.