WASHINGTON (Reuters) -Sales of new U.S. single-family homes fell more than expected in May as high mortgage rates sapped demand, boosting the supply of unsold houses on the market.

New home sales fell 13.7% in May, showing that the housing market is in a freeze. Redfin said this month that unsold inventory is at a record high.

The S&P 500 Index ($SPX ) (SPY ) today is up +0.54%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.41%, and the ...

WASHINGTON — Sales of new U.S. single-family homes fell more than expected in May as high mortgage rates sapped demand, boosting the supply of unsold houses on the market.

US new homes sales fell in May by the most in almost three years as incentives fell short of alleviating affordability constraints. Sales of new single-family homes decreased 13.7% to a 623,000 ...

New-home sales drop by most since 2022 on poor affordability Subscribers are entitled to 10 gift sharing articles each month. These can be shared with friends and family who are not subscribers.

Builders have been offering incentives, including price cuts, to attract buyers. "While builder incentives may prevent a steep decline in new home sales, we see no real upside for sales in the months ...

Sales of new US single-family homes fell more than expected in May as high mortgage rates sapped demand, boosting the supply of unsold houses on the market.