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U.S. new home sales plunged 10.5% month-over-month in July, with the median sale price down 0.9% year-over-year.
U.S. July new single-family home sales annualized fell to 607,000 units, lower than the expected 620,000 units. Market supply sharply increased from 8.5 months in June to 9.6 months, and the number of homes for sale also rose from 479,000 units to 488,000 units, indicating weak demand and rising inventory.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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