Sales of new single-family homes rose 2.4% to a 515,000 seasonally adjusted annual rate in July, according to data released by the Commerce Department yesterday.

The July figure came after a downwardly revised 503,000 rate in June, a 2.1% drop originally reported as a 0.6% decrease to 530,000. IFR Markets’ poll of economists had predicted a 525,000 sales level for July.

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