Costs Drive Down New Home Sales in July; Homeownership Elusive for Many
U.S. Census Bureau data show new single-family home sales fell more than 10% from June to July while the average new home price rose about 4%.
Sales of new single-family houses dropped more than 10% from June to July, according to a U.S. Census Bureau report. At the same time, the average price of a new home grew roughly 4%, a combination that has made homeownership elusive for many prospective buyers.