US New Home Sales in July 0.739 Million vs. 0.625 Million Expected

• Previous number was 0.617 million (revised to 0.668 million)
• Average sale price: $429,800 vs. $417,300 previously
• Seasonally adjusted estimate of new homes for sale at end-July 462K vs. 476K previously
• Offer at 7.5 months vs. 9.1 months previously

This number and the large revision are already changing the picture of demand for new homes.

Here is the new chart:

This was the old chart:

This article was written by Adam Bouton on www.forexlive.com.