US sales of new single-family homes fell 10.5% from June to a seasonally adjusted annualized rate of 607,000 in July 2026, marking the sharpest monthly decline and the lowest level since January. The result missed market expectations for a milder drop to 620,000. Sales plunged 43% in the Midwest to 43,000 and declined 13% in the South to 383,000, offsetting gains of 30% in the Northeast to 43,000 and 6.2% in the West to 138,000. Available new-home inventory stood at 488,000, equivalent to about 9.6 months of supply at the latest sales pace. The median sales price was $393,800, its lowest level in more than one year.