US new home sales in July on the rise

China Daily (USA) - - BUSINESS -

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.

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