WASHINGTON, D.C. – August 25, 2010 – (RealEstateRama) — Sales of newly built, single-family homes declined 12.4 percent to a seasonally adjusted annual rate of 276,000 units in July, according to data released by the U.S. Commerce Department today. This was the lowest sales rate for new homes on record.”Today’s report, though not unexpected, is disappointing in view of the improvement in sales activity that we saw in June,” said Bob Jones, chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, Mich. “Potential home buyers have become very hesitant due to uncertainty about the economy and job market, and are putting off the decision to buy until they feel more confident.”
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