US New-Home Sales Decline Amid Rising Inventory and Affordability Challenges
TL;DR Summary
US new-home sales in May dropped by 13.7%, the largest decline since 2022, due to high mortgage rates, rising costs, and economic uncertainty, leading to increased inventories and a slowdown in construction, with prices slightly rising and regional sales varying.
Topics:top-news#affordability#business#homebuilder-confidence#mortgage-rates#new-home-sales#us-housing-market
- US New-Home Sales Drop to Seven-Month Low on Poor Affordability Bloomberg
- Sales of new homes tanked in May, pushing supply up to a 3-year high CNBC
- Housing market map: Zillow just released its updated home price forecast for 400-plus housing markets Fast Company
- Sales of existing homes tick up even as buying becomes less affordable Baton Rouge Business Report
- US new home sales fall more than expected in May; inventory rises Yahoo Finance
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