New Home Sales Fall in July

Washington, DC, Aug. 25, 2014 -- Sales of new single-family home fell again in July, according to the Commerce Department.

Sales declined 2.4% to a seasonally adjusted annual rate of 412,000. Economists were estimating a July sales pace of 425,000.

However, June's figure was revised up to a pace of 422,000 from a previously estimated 406,000.

July sales were up 12.3% from a year ago.