The Census Bureau and the Department of Housing and Urban Development have released New Residential Home Sales data for July 2010. Surprise! New Home Sales Hit a New Record Low. AGAIN! Excerpts from the Release... Sales of new single-family houses in July 2010 were at a seasonally adjusted annual rate of 276,000. This is 12.4 percent below the revised June rate of 315,000 and is 32.4 percent below the July 2009 estimate of 408,000. The median sales price of new houses sold in July 2010 was $204,000. This is the lowest median price since December 2003. The average sales price was $235,300. The seasonally adjusted estimate of new houses for sale at the end of July was 210,000. This represents a supply of 9.1 months at the current sales rate. Three months after the home buyer tax credit expired...(read more)

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