July Discount Rate Hike Requests

Data Round-Up: New Home Sales Falter in July, Trend Remains Positive

written by Michael Lewis on August 23, 2017

Sales of new single-family homes fell -9% from 630K in June to 571K in July (seasonally-adjusted at annual rate). This was softer than expected and the lowest level since August 2016. However, the sting was eased substantially by a +46K upward revision to 17Q2 results. July’s 571K reading was well below the 615K average for 2017-H1. Nonetheless, the sales trend remains positive: for 2017-to-date, sales were +9% above the comparable period in 2016.