July US new home sales 571K vs 610K expected

July US new home sales data - Seven month low - Prior was 610K (revised to 630K) - Sales pace -9.4% vs 0.0% expected - Prior sales pace +0.8% (revised to +1.9%) That month-over-month drop is sparking a few cringes but the story is supply. Builders want to build but they're saying they can't find the land.

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