US new home sales in July on the rise
Sales of US newhomes rose in July to the highest level since Oct 2007, as the US housing market enjoyed a stable growth this year. The sales of new single-family houses in June were at a seasonally-adjusted annual rate of 654,000, 12.4 percent above the revised June level, and 31.3 percent above the same period last year, the Commerce Department said on Tuesday. The median sales price of new houses stood at $294,600 in July. The seasonally adjusted estimate of newhouses for sale at the end of July was 233,000 units, which represented a supply of 4.3 months at the current sales rate.