Reported about 18 hours ago
In March, new home sales increased by 7.4%, surpassing expectations, as inventory reached its highest level since 2007. Despite this surge, high borrowing costs, influenced by rising 10-year Treasury yields, continue to deter many potential buyers. The National Association of Realtors' chief economist Lawrence Yun noted that while the inventory growth is promising, a decrease in mortgage rates is crucial to further stimulate the housing market.
Source: YAHOO