Sales of newly built single-family homes fell 10.5% in July to a seasonally adjusted annual rate of 607,000, down 6.3% from a year earlier. High borrowing costs, inflation, and economic uncertainty are limiting demand. Inventory rose to 488,000 units, a 9.6-month supply. The median sales price dropped 2.3% to $393,800. Sales increased 8.8% in the Northeast but declined in the Midwest, South, and West.