Homebuilders in July saw a decrease in new-home sales in the U.S. for the second straight month, but prices have started to moderate and should help the market in the near future.
The U.S. Department of Commerce reported on Monday that new home sales fell 2.4 percent to a seasonally adjusted rate of 412,000 units, which is the lowest level since March, Reuters reported. New home sales also fell 7 percent in June.
July forecasts predicted 430,000 new home sales across the country, but results fell well short.
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