NEW HOME SALES FALL TO 6-YEAR LOW

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Key Points:

  • New home sales fell 12.6% in July from June to a seasonally adjusted 511K.
  • New home sales dropped in June to the lowest level since January 2016.
  • New home sales were 29.6% lower than July 2021.
  • June sales were also revised down to 585K from 590K.
  • The median sales price of new houses sold in July 2022 was $439,400 and the average sales price was $546,800.
  • The Right Facts will continue to monitor home sales.
Source