New home sales in the United States increased last month, as the housing market continues to show signs of strength, data showed on Tuesday.
The sales of new single-family homes increased by 6.6% to a seasonally adjusted annual rate of 708,000 units in July, according to the U.S. Department of Commerce.
The June reading was revised upwards to show 701,000 sold homes, compared with a previously reported 676,000 home sales.
Data indicated that most sales were in the price range of $200,000 to $749,000, with only 1% in the lower price range.