New single-family home sales fell 10.5% in July to 607,000, the slowest pace since January, amid higher mortgage rates and economic uncertainty. Inventory rose 1.9% to 488,000 units, with a 9.6-month supply, the highest since January. Completed homes decreased, while homes under construction and not started increased. Median sales price dropped 2.3% to $393,800. Sales rose 8.8% in the Northeast but declined in other regions.