New U.S. home sales plunge in June on rising affordability woes

Econ & Housing

New home sales in June fell to the lowest level since April 2020, reflecting declining builder sentiment as construction bottlenecks continue to slow new home building and raise housing costs. Sales of newly built, single-family homes in June fell 8.1 per cent to a 590,000 seasonally adjusted annual rate from a sharply downwardly revised reading…

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