New home sales fell sharply in July, the Census Bureau and the Department of Housing and Urban Development reported.
Sales of new single-family homes dropped 10.5% to 607,000 at a seasonally adjusted annual rate, from 678,000 in June. That is 6.3% below the July 2025 pace.
The estimate for new houses for sale was 488,000 by the end of July, compared with 479,000 a month earlier. At the current sales rate that stock works out to 9.6 months of supply, up from 8.5 in June.
Buyers paid a median $393,800 for new houses sold in July, 2.3% less than in June. The average price was $508,800.