Us new-home sales fall in july

Sales of new homes in the United States fell for the third straight month in July, government data showed Tuesday in a report highlighting continued weakness in the housing market.

Sales of new single-family homes fell 0.7 percent from June, to an annual rate of 298,000 homes, the Commerce Department said.

The months-long decline in sales was heading toward the all-time low of 281,000 set in February, in records dating back to 1963.

The department sharply revised downward the sales rate for the previous two months, to 309,000 in May and 300,000 in June.

Source: UK.News.Yahoo.com