New home sales fell below estimates in April as mortgage rates surged to above 7%. The data, released by the Census Bureau on Thursday, pointed to a disappointing month for housing sales, following the drop in April’s existing home sales released on Wednesday. The rebound in inflation in the first ... READ MORE >
U.S. new home sales
New home sales grew more slowly in January amid elevated mortgage rates
Sales of new homes grew by 1.5% in January, much slower than the 7.2% increase in December, most likely because of elevated mortgage rates. January's sales were also lower than estimated while December's increase was revised down from the 8% increase reported earlier by the Census Bureau. Slower sales ... READ MORE >
Housing prices set a record as consumer confidence dips
Economic data released on Tuesday added more mixed signals on the housing market in the wake of the wide fluctuations in mortgage rates over the past two months. At the same time, consumer confidence fell to the lowest level in four months as expectations markedly deteriorated. To begin with, housing ... READ MORE >
New home sales remain bright spot in housing, rising on strong supply
New home sales remain a bright spot in a housing market that has cooled amid the surge in mortgage rates. Sales of new homes increased by 4.4% in July to 714,000, according to Commerce Department data released on Wednesday. The rebound in new home sales has continued for more than a year with July's ... READ MORE >