NEW home sales rose for the third month in a row in July, but the pace of growth slowed significantly, with developers launching more homes than they could sell.

Buyers picked up 897 new private homes last month, 12 per cent more than in June, according to the latest numbers released on Friday by the Urban Redevelopment Authority. This comes after new home sales almost doubled between May and June.

Last month's sales were clearly boosted by mass market condominium projects, with two large-scale launches accounting for almost half the whole month's figures.

Clover by the Park in Bishan sold 100 units at a median price of $753 per sq ft (psf), while Livia in Pasir Ris sold 301 apartments at a median price of $671 psf.

Overall, almost nine in 10 homes sold last month cost $1,000 per sq ft or less - the highest price level since URA started compiling monthly sale figures a year ago.