US: New home sales decline 1.7% in July to 627,000

"Sales of new single-family houses in July 2018 were at a seasonally adjusted annual rate of 627,000," by the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced on Thursday.

Key quotes

• This is 1.7 percent below the revised June rate of 638,000, but is 12.8 percent above the July 2017 estimate of 556,000. 
• The median sales price of new houses sold in July 2018 was $328,700.
• The average sales price was $394,300. 
• The seasonally-adjusted estimate of new houses for sale at the end of July was 309,000.
  • This represents a supply of 5.9 months at the current sales rate.