New Home Sales

Julie C. Nichols Mortgage

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New Home Sales, which measures signed contracts on new homes, were down 12.8% in July, which was much less than the unchanged reading expected.  But that does not tell the whole story.  The June report, which was already up 7%, was revised significantly higher by 82,000 sales to a 12-year high.  When taking the revision into account, sales were only down 1.7% after a blockbuster report.   Sales are up 4.3% from last year. 

 

 

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