New home sales in US rise 4.4% in July

New home sales in US rise 4.4% in July

Average price stood at $513,000

By Ovunc Kutlu

ISTANBUL (AA) - New home sales in the US rose 4.4% in July, compared to the previous month, according to a report released on Wednesday by the Census Bureau and the Department of Housing and Urban Development.

Sales of new single‐family homes were at a seasonally adjusted annual rate of 714,000, it said.

New home sales, which show the number of new single-family homes sold, were estimated to come in at 705,000 last month. The figure for June was revised down to 684,000, from 697,000.

New home sales in July were 31.5% above the same month last year when it stood at 543,000.

In July, the median sale price of new houses sold was $436,700, while the average price was $513,000, according to the report.

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