New Home Sales Drop to Lower End of Range After Hitting The Highs Last Month
By: Mortgage News Daily | Published: 2025-06-27 15:06:00 | Source: www.mortgagenewsdaily.com
New Home Sales fell sharply in May according to the latest report from the U.S. Census Bureau and HUD. After a brief surge in April, the seasonally adjusted annual pace dropped to 623,000—down 13.7% from April’s revised reading of 722,000 and 6.3% lower than the same month last year. When last month’s data originally came out, the annual pace of 743k was the highest in several years.
The drop brings sales activity back in line with late 2023 levels. While it’s not uncommon to see volatility in this data series, the sharp monthly decline is still notable, especially considering the downward revision to April’s numbers.
Inventory rose modestly to 507,000 homes, which at the current sales pace represents a 9.8-month supply—up from 8.3 months in April and 8.5…
