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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Mortgage Trainer Ron Vaimberg: 'Expand Your Network'Mortgage industry trainer Ron Vainberg, president of Ron Vainberg International, has shared some tips on raising profits in a slow sales environment. So reports TheMReport.
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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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