High mortgage rates, rising construction costs, and economic uncertainty have led to a 0.6% decline in new single-family home sales in July, with an 8.2% drop from last year. Inventory remains high, with a 9.2-month supply and the largest ready-to-occupy stock since 2009. The median sale price fell 5.9%, mainly due to increased builder incentives. Sales declined across all U.S. regions year-to-date.
Continue to full article
