US new home sales jump 10.6% in July, highest since May 2023

By Ovunc Kutlu

ISTANBUL (AA) - New home sales in the US jumped 10.6% in July from the previous month, according to a report Friday by the Census Bureau and the Department of Housing and Urban Development.

Sales of new single‐family homes were at a seasonally adjusted annual rate of 739,000 -- their highest level since May 2023.

New home sales, which show the number of new single-family homes sold, were estimated to come in at 624,000 last month for a gain of 1%.

The figure for June was revised up to 668,000 from 617,000 for a monthly increase of 0.3%.

Annually, new home sales in July were 5.6% above the same month in 2023 when the figure stood at 700,000.

The median sale price of new homes sold was $429,800 in June and the average sales price was $514,800.