July began with less than 100 new home net sales.

Our Weekly Traffic & Sales Watch reported another poor week for new home net sales.  It was the second time in the past three weeks where we reported less than 100 new home net sales, something that has not occurred since May 2020.  With only four weeks reporting in July this year, the market is now on pace for the slowest July since 2011.  The graph below shows the weekly sales totals in 2022.  

The number of new home communities has remained the same for four straight weeks. 

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