United States: Fall in new home sales in July

WASHINGTON (Reuters) – New home sales in the United States fell in July as rising interest rates and prices weighed on demand.

In annual rhythm adjusted for seasonal variations, they fell last month by 12.6% to 511,000 units, the Commerce Department announced on Tuesday.

Economists polled by Reuters forecast an average of 575,000 annual sales in July.

The June figure was revised down to 585,000 from 590,000 originally announced.

Sales in July rose in the Northeast by 13.3% but they plunged in the Midwest (-20.6%), the South (-12.1%) and the West (-13.3%) ).

Median home prices rose 8.2% month-over-month to $439,400.

On the bond market, the yield of ten-year Treasuries fell by 2.2 basis points to 3.0128% and that of two years stood at 3.2554% after the publication of this statistic.

(Report Lucia Mutikani; French version Claude Chendjou, edited by Bertrand Boucey)

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