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Midwest New Home Sales Slip in July

New home sales in the midwest region of the U.S. slipped in July with new home sales coming in at the seasonally-adjusted annual rate of 52,000 homes, down 8.8% from a rate of 57,000 homes the month before and down 1.9% from July 2013, according to data released today by the U.S. Census Bureau.  Year to date, through July, there have been 36,000 new homes sold (not seasonally adjusted) down 2.7% from the same time last year when there were 37,000 year to date new home sales.

On a national level, in July new home sales were at a seasonally-adjusted annual rate of 412,000 homes, down 2.4% from the month before but up 12.3% from July 2013 when new home sales were at the annual rate of 367,000 homes.  In July 2014 there was a 6 month supply of new homes for sale, an increase of 7.1% from the month before when the supply was 5.6 months and an increase in the same amount from a year ago.

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