New Home Sales Rise In 10% July

(Washington, DC) — Sales of new single-family homes surged in July.

New government figures show a ten-point-six percent increase above the revised June rate of 668-thousand units. It’s also more than five-and-half percent above the rate from one year ago. Industry experts say rising inventory and lower mortgage rates helped drive sales.

The average sale price of a new house sold in July was just under 515-thousand dollars.