Gold price holding firm as U.S. new home sales fall 0.6% in July

Home For Sale Image

(Kitco News) – The gold market is holding on to Friday’s gains and remains well supported as the U.S. housing market continues to struggle, even though new home sales improved slightly last month.

New home sales fell 0.6% in July to a seasonally adjusted annualized rate of 652,000 units—just below June’s revised rate of 656,000—according to a report released Monday by the U.S. Census Bureau and the Department of Housing and Urban Development.

Despite the decline, sales came in stronger than expected; economists had forecast a drop to 635,000 units.

On a year-over-year basis, new home sales were down 8.2%, the report noted.

The gold market is not seeing much reaction to the latest housing data. Spot gold last traded at $3,369.50 an ounce, roughly unchanged on the day.

Economists warn that continued weakness in the housing market does not bode well for overall economic activity. The sector has struggled in recent years due to rising home prices and elevated mortgage rates. However, sales could start to improve as the Federal Reserve looks to ease interest rates again in June and as prices continue to fall.

The report also noted that the median sales price of new houses sold in July 2025 was $403,800, down 0.8% from June 2025 and 5.9% lower than a year earlier. At the same time, the average sales price of new houses sold in July 2025 was $487,300, 3.6% below June’s level and 5.0% lower than in 2024.

Meanwhile, the supply of new homes for sale was little changed from June. The report said there were 499,000 homes for sale at the end of last month, representing a 9.2-month supply at the current sales pace.

Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

 

Shared by Golden State Mint on GoldenStateMint.com

This entry was posted in Investment, Precious Metals, Silver, Silver Rounds. Bookmark the permalink.

Leave a Reply