The seasonally adjusted annual pace of new single-family home sales in the U.S. rose to 372,000 in July, up 3.6 percent from a revised rate of 359,000 in June, 25.3 percent above the 297,000 pace recorded in July 2011.
Preliminary U.S. new home sales (versus pace) in July were estimated to be 34,000 (give or take 8 percent), unchanged from June and the fourth slowest July on record but a two-year high. July sales peaked in 2005 with 117,000 new homes sold.
Annual new home sales in the U.S. have averaged 671,000 since 1963, peaking at 1,283,000 in 2005, bottoming at 306,000 last year.
In the West, the pace of new home sales fell 0.9 percent versus June but was up 68.3 percent on a year-over-year basis.
∙ New Residential Sales: July 2012 [census.gov]
∙ U.S. New Home Sales: Up 15.1% YOY In June But Drop From May [SocketSite]
∙ New Residential Sales Since 1963 [census.gov]