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US new single-family home sales post second straight monthly decline
US new home sales unexpectedly fell in May for the second straight month, hitting a seasonally adjusted annualised rate of 580,000 units, the weakest since January, according to the Commerce Department. The decline was driven by high mortgage rates—around 6.47% for a 30-year loan—and elevated home prices, which continue to squeeze affordability despite some price cuts and incentives from builders.
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zerohedge.com
New Home Sales Unexpectedly Plunged In May As Prices Surged
...new home sales have really gone nowhere for four years
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cryptobriefing.com
US new-home sales fall 7.3% as mortgage rates refuse to budge
US new-home sales dropped 7.3% in May to 580,000 units as mortgage rates near 6.59% squeeze affordability and builders pile on discounts to move inventory.
