US New Home Sales Decline in May Amid Rising Inventory and High Prices
TL;DR Summary
US new home sales declined by 13.7% in May, falling more than expected due to high mortgage rates, leading to an increase in unsold homes to the highest level since 2007, amid economic uncertainty and rising construction costs.
- US new home sales fall more than expected in May; inventory rises Yahoo Finance
- Sales of new homes tanked in May, pushing supply up to a 3-year high CNBC
- Home sales rose slightly in May, but high mortgage rates are still hurting the market Yahoo Finance
- New-home sales plunge to a 7-month low as buyers struggle with high prices MarketWatch
- Housing market map: Zillow just released its updated home price forecast for 400-plus housing markets Fast Company
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