By contrast, the rate for June was revised sharply upward to 728,000, the highest annual sales rate since 2007.
Existing home sales, meanwhile, rebounded by 2.5% after falling for 16 straight months.
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The Evolution of Digital Originations in Mortgage Lending
Exploring recent trends in digital originations for mortgage lenders, highlighting the role of fintech and AI in reshaping the lending process.
Estimated reading time: 0 minutes, 19 seconds
New Home Sales Fell 12.8% in July
Sales of new U.S. homes tumbled by 12.8% in July to a seasonally adjusted annual rate of 635,000 units, according to the Commerce Department. So reports the Associated Press.
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