{
  "id": 3314468,
  "title": "New US home sales drop 10.5% in July on high mortgage rates",
  "url": "https://urgent.news/2026/08/25/new-us-home-sales-drop-10-5-in-july-on-high-mortgage-rates",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-25T17:20:03.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/economy-news/new-us-home-sales-drop-105-in-july-on-high-mortgage-rates-93CH-4875780"
  },
  "original_language": "en",
  "account": "New US home sales experienced a sharp decline of 10.5% in July, according to data released by the Commerce Department's Census Bureau. The seasonally adjusted annualized sales rate for single-family homes dropped to 607,000 units, marking the lowest pace since January and a decrease from the revised June figure. Economists had anticipated a higher sales rate of 620,000 units for the month.\n\nThe decline in new home sales, which are recorded when a contract is finalized, is primarily attributed to high mortgage rates. Sales decreased by 6.3% compared to the same period in the previous year. Furthermore, the median price for a new house fell to $393,800 in July, the lowest level in four years, representing a 0.9% decline from the prior year.\n\nConsumer confidence, as indicated by a separate report from the Conference Board, has also been affected by the housing market. The report revealed that only 5.2% of American consumers plan to purchase a home within the next six months, a significant decline from 6.5% in July. This marks the largest decrease in over five years. Additionally, consumer confidence fell to a seven-month low, with concerns about the job market and inflation cited as key factors.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}