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Sales of newly built homes fell unexpectedly in May, marking the second consecutive month-over-month decline, according to a June 24 report from the Census Bureau.
New home sales fell 7.3 percent in May to a seasonally adjusted annual rate of 580,000, down from 626,000 in April, following a 5.7 percent drop the previous month. The sales level is far below market expectations of about 640,000 for May.
The May new home sales also declined by 6.8 percent from the May 2025 rate of 622,000.
Rising mortgage rates and inflation, along with economic uncertainty, may have kept many new home seekers out of the market in May, according to Bill Owens, chairman of the National Association of Home Builders (NAHB)….
New home sales fell 7.3 percent in May to a seasonally adjusted annual rate of 580,000, down from 626,000 in April, following a 5.7 percent drop the previous month. The sales level is far below market expectations of about 640,000 for May.
The May new home sales also declined by 6.8 percent from the May 2025 rate of 622,000.
Rising mortgage rates and inflation, along with economic uncertainty, may have kept many new home seekers out of the market in May, according to Bill Owens, chairman of the National Association of Home Builders (NAHB)….
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