Sales of new homes in U.S. fell more than forecast in July

NEW HOME SALES in the U.S. fell in July by the most in more than three years. / BLOOMBERG FILE PHOTO/JACOB KEPLER
NEW HOME SALES in the U.S. fell in July by the most in more than three years. / BLOOMBERG FILE PHOTO/JACOB KEPLER
WASHINGTON – Purchases of new U.S. homes plunged in July by the most in more than three years and previous months were revised down, a sign that growth in the industry may be taking a pause as mortgage rates rise. Sales of newly built homes declined 13.4 percent to a 394,000 annualized pace, the weakest…

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