July new home sales comes in at 652,000, median home price falls

Well, David, new home sales in July came in at a seasonally adjusted annualized rate of 652,000 units. That is a beat. The street was expecting 632.It is still down6% month-tomonth and down 8.2% year-over-year. Why. Because June's number was revised down from uh was revised up to 656 from 627.So, you saw a stronger June than we thought. Now, this number is based on signed contracts during the month of July. So, people out shopping, in inking their deals, and that's when mortgage rates were still on the high ...