New Home Sales Decrease Sharply, Record Months of Unsold Inventory Under Construction

New Home Sales Decrease to 511,000 Annual Rate in July

The Census Bureau reports New Home Sales in June were at a seasonally adjusted annual rate (SAAR) of 511 thousand.

The previous three months were revised down slightly, combined.

Sales of new single‐family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly today by the U.S. Census Bureau and t…