July new single-family home sales declined 12.8 percent from June, but up 4.3 percent year-on-year
July’s new single-family home sales fell sharply to a seasonally adjusted annual rate of 635,000, down 12.8 percent from June, but up 4.3 percent year-on-year. Meanwhile, months of inventory rose to 6.4 in July versus 5.9 months in June (up 16.4 percent) and 6.2 months last in July of 2018 (up 3.2 percent).
July new home mortgage applications rose 11 percent from June and 31 percent year-on-year
July mortgage applications for new home purchases of all kinds increased 11 percent from June and 31 percent year-on-year (not seasonally adjusted). The average loan size of new homes decreased from $329,593 in June to $325,457 in July.
July durable goods orders rise 2.1 percent due to rebound in aircraft orders
New orders for manufactured durable goods in July increased $5.0 billion or 2.1 percent to $250.4 billion. Excluding defense, new orders increased 1.4 percent. However, when excluding transportation, new orders decreased 0.4 percent.