New Home Sales

U.S. New-Home Sales Fell in July, Yet Still Ahead of Last Year

Sales of new U.S. homes plummeted 9.4 percent in July, the sharpest one-month drop in nearly a year. But the decline follows strong sales in previous months, and sales so far this year are outpacing last year’s. The Commerce Department says sales fell to a seasonally adjusted annual rate of 571,000, down from 630,000 in June. July’s new home sales…