Southern Nevada’s home construction market kept slowing in July, a new report shows, as builders locally and nationally notch fewer sales.

Builders closed 802 home sales in the Las Vegas area in July, down 23 percent from the same month last year, according to Las Vegas-based Home Builders Research.

The median closing price, $519,975, was up 7 percent from a year earlier.

After a buyer signs a sales contract with a builder, it can take several months before construction of the house is finished and the sale closes.

Amid the drop in sales totals, builders also drastically scaled back their construction plans, pulling 804 building permits in July, down 39 percent from a year earlier.

Homebuilders’ sales totals have been sliding this year as would-be buyers face high borrowing costs and

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