Sales of new homes were up last month according to the latest report from the Commerce Department.
Sales rose by 2.4 percent last month to a seasonally adjusted annual rate of 515,000 units, the most since April. Even with the over-the-month increase, new-home sales are down 35.3 percent from last July.
The average price of a new home sold in July was $294,600, down 4.1 percent from a year ago. The median home price was $230,700, down 6.3 percent from last year.
Source: Associated Press