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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Navigating the New Terrain of Mortgage Originations
Explore the evolving landscape of mortgage origination, influenced by shifting interest rates, housing market dynamics, and regulatory changes. Discover strategies for lenders to adapt and thrive in this dynamic environment.
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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