By Tuba Sahin
ANKARA (AA) - Sales of new homes in the US fell to their lowest level in July since January 2016, hitting 511,000, according to figures released Tuesday by the Census Bureau and Housing and Urban Development Department.
New single‐family homes were weaker than expected at 575,000, down 12.6% from the revised June rate of 585,000.
New home sales slipped 29.6% from the July 2021 estimate of 726,000.
The median price of new homes was $439,400, while the average was $546,800.