The pace of new home sales fell 2.4% to an annualized rate of 412,000 units in July.

Economists were expecting a pace of 429,000 units.

June's report, however, was revised up to 422,000 from an earlier estimate of 406,000.

The median sales price was $269,800, and the average price was $339,100.

According to the Census, there is a 6.0 month supply of homes available for sale, up from 5.6 months in June.

Here's a regional breakdown:

See Also:

PAUL RYAN: 'We Were Right'The French Government Has Collapsed, And It's Partly Paul Krugman's FaultThis Kansas Lawyer Is Planning To 'Torpedo' Obama's Major Immigration ChangesHotels Now Make $2.25 Billion In Revenue On Surcharges AloneWatch Taylor Swift 'Shake It Off' In Her MTV VMA Performance