US new-home sales fell to a six-month low in July, signaling that high mortgage rates continue to suppress demand despite builders’ price cuts and incentives. Government data on Tuesday showed sales of newly built single-family homes declined 10.5% to a 607,000 annualized pace, below the median economist estimate of 620,000. The median new-home price was down 0.9% YoY to $393,800. Sales have slipped in three of the past four months, underscoring financing costs and affordability constraints—espe

US new-home sales fell to a six-month low in July, signaling that high mortgage rates continue to suppress demand despite builders’ price cuts and incentives. Government data on Tuesday showed sales of newly built single-family homes declined 10.5% to a 607,000 annualized pace, below the median economist estimate of 620,000. The median new-home price was down 0.9% YoY to $393,800. Sales have slipped in three of the past four months, underscoring financing costs and affordability constraints—especially in the entry-level market—despite measures such as free upgrades, mortgage-rate buydowns and price reductions by builders.