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US new-home sales fall in July

A home is offered for sale by Remax Realty in a housing development on December 4, 2012 in South Barrington, Illinois. Sales of new homes in the United States fell in July and June's strong data was revised much lower, the Commerce Department said Friday.Sales of new homes in the United States fell in July and June's strong data was revised much lower, the Commerce Department said Friday. Dimming the picture somewhat of a recovering housing market, the department's newest data put July new-home sales at an annual pace of 394,000, down from June's 455,000.