US New-Home Sales Exceed Forecast Following Upward Revision
Newly built homes at the Cold Spring Barbera Homes subdivision in Loudonville, New York.
Photographer: Angus Mordant/BloombergSales of new US homes exceeded forecasts in July after an upward revision to the prior month, as prices eased and heavy incentives enticed more buyers off the fence.
Contract signings on new single-family homes ticked down to a 652,000 annualized rate, with the strongest demand in the West, according to a government report issued Monday. The median estimate in a Bloomberg survey of economists was a 630,000 pace.