US EditionUS New Home Sales Fall More than Expected in May; Inventory Rises
- In May 2025, sales of newly built single-family homes in the U.S. decreased by 13.7% from the previous month, reaching an annualized pace of 623,000 homes after adjustments for seasonal variations, according to the Census Bureau.
- This decline followed a revised lower April sales pace of 722,000 units and came amid persistent high mortgage rates just under 7% and economic uncertainties including import duties.
- In May, the number of unsold homes increased to 507,000 units, reaching a peak not seen in over a decade, while permits for constructing new single-family homes declined to their lowest point in two years.
- In May, the midpoint value for newly sold homes reached $426,600, reflecting a 3% increase from the previous year. However, economist Bradley Saunders highlighted that the recent decline in sales offsets recent gains, as mortgage rates continue to hover around 7%.
- These trends suggest weakening demand and softened housing activity, with builders cutting prices and forecasts expecting a contraction in residential investment for the second quarter of 2025.
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US new home sales fall more than expected in May; inventory rises - Hawaii Tribune-Herald
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. New home sales units dropped 13.7% to a seasonally adjusted annualized rate of 623,000 units last month, the Commerce Department’s Census Bureau said on Wednesday. The sales pace for April was revised lower to a rate of 722,000 units from the previously reported 743,000 units.
Denver Gazette+2 Reposted by 2 other sources
US new home sales fall more than expected in May; inventory rises
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.
·Denver, United States
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Leaning Left3Leaning Right3Center4Last UpdatedBias Distribution40% Center
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R 30%
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