Stock Market Update
25-Aug-26 10:30 ET
New Home Sales fall in July
Dow +29.43
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[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.2%), and DJIA (+0.1%) hold on to modest gains as technology stocks give back some of their opening strength.
New home sales decreased 10.5% month-over-month in July to a seasonally adjusted annual rate of 607,000 (Briefing.com consensus 620,000) from a revised 678,000 (from 628,000) in June. On a year-over-year basis, new home sales were down 6.3%.
The key takeaway from the report is that changes in monthly sales varied greatly by region, but the overall pace of sales slowed. This increased the month's supply of new homes for sale, which could result in some pressure on prices.
