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New home sales fall in July as inventory rises
Builders sold at a seasonally adjusted annual rate of 607,000 in July, down 10.5% from June, while new-home inventory rose to 488,000 and implied supply increased to 9.6 months.
Mortgage News Daily reports that US new single-family home sales declined sharply in July, underscoring uneven demand as buyers continue to face affordability constraints and elevated mortgage rates.
According to the latest Census Bureau and HUD data, the sales pace fell to a seasonally adjusted annual rate of 607,000 in July, down from June’s revised 678,000. That level was 6.3% lower than July of the prior year, largely erasing June’s gain and leaving the broader trend broadly flat.
Builders also added to available supply, with new houses for sale rising to 488,000, up 1.9% from June. Inventory remained 1.6% below its year-ago level, but the implied supply rate increased to 9.6 months from 8.5 months in June.
Pricing showed mixed signals, with the median sales price slipping to $393,800, down 2.3% from June and 0.9% from a year earlier, while the average sales price climbed to $508,800, up 4.1% month over month and 5.4% versus July 2025. Mortgage News Daily said sales have not yet established a sustained upward trend despite the larger home supply.