Sales of New U.S. Homes Fell More Than Forecast in July - Bloomberg

Sales of New U.S. Homes Fell More Than Forecast in July - Bloomberg:
"Purchases of new U.S. homes plunged 13.4 percent in July, the most in more than three years, raising concern higher mortgage rates will slow the real-estate rebound.

Sales fell to a 394,000 annualized pace, Commerce Department figures showed today in Washington. The reading was the weakest since October and was lower than any of the forecasts by 74 economists Bloomberg surveyed."