ICYMI: US New-Home Sales Exceed Forecast Following Upward Revision

Sales of new US homes exceeded forecasts in July after an upward revision to the prior month, as prices eased and heavy incentives enticed more buyers off the fence. Contract signings on new single-family homes ticked down to a 652,000 annualized rate, with the strongest demand in the West, according to a government report issued Monday. The median estimate in a Bloomberg survey of economists was a 630,000 pace.

Katie Hubbard, Executive Vice President of Capital Markets at Walton Global, breaks down the American real estate landscape as market participants await the Federal Reserve's next interest rate decision in September. Katie speaks with Tim Stenovec and Norah Mulinda on Bloomberg Businessweek Daily.

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