New home sales fell in July, but there's a silver lining in the clouds

Sales of new homes decreased to an annualized rate of 635,000 in July, according to the Census Bureau and the Department of Housing and Urban Development. While Julys rate was 12.8% below June, its important to note that Junes figures were upwardly revised to a rate of 728,000 and remains 4.3% higher than a year earlier when it was 609,000.

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