New home sales soar in July amid supply shortage, but prices drop

Sales of new single-family homes rose in July as an acute shortage of existing homes drove buyers to new units — but prices dropped by nearly 10%. New home sales shot up 4.4% to a seasonally adjusted annual rate of 714,000 units last month, the Commerce Department said on Wednesday. The sales pace…#commercedepartment #federalreserves #midwest #northeast #south

Source: Reuters: Health - August 23, 2023 Category: Consumer Health News Source Type: news