New home sales rose in July

Aug. 23, 2012 at 2:06 PM

WASHINGTON, Aug. 23 (UPI) -- Sales of new single-family homes rose 3.6 percent June to July, the U.S. Commerce Department said Thursday.

Sales rose from a revised June rate of 359,000 to a seasonally adjusted annual rate of 372,000 in July.

Sales also rose 25.3 percent above the annual rate of 297,000 from July 2011.

The Commerce Department said the average sale price for a new home sold in July $263,200. The seasonally adjusted estimate how many new homes were on the market at the end of the month was 142,000, which represents a 4.6-month supply at the current rate of sales.

Related UPI Stories
Latest Headlines
Trending Stories
Pepsi to release 'Back to the Future Part II' inspired Pepsi Perfect
Nobel Prize in medicine awarded to parasitic disease scientists
Womb transplants begin in U.K. after Sweden's success
Gay Vatican priest comes out day before Pope Francis begins synod on family issues
Scientists find roadmap that may lead to 'exercise pill'