Reported 5 months ago
In April, new home sales in the US fell by 4.7% to a seasonally adjusted annual rate of 634,000 units, lower than expected, with declines seen in various regions. The median new house price increased by 3.9% to $433,500 from a year ago, and the supply of houses on the market increased to 480,000 units, indicating a 9.1-month inventory to clear. These trends suggest a housing market losing momentum due to higher prices and mortgage rates, as evidenced by decreased sales and builder incentives.
Source: YAHOO