Sales of new homes in the United States fell by double digits in May, as concerns about the nation’s housing market continue to keep potential buyers on the sidelines.
The Department of Housing and Urban Development (HUD) and the Census Bureau reported on June 25 that sales of new single-family homes in May were at a seasonally adjusted annual rate of 623,000. That’s down 13.7 percent from the April rate of 722,000 and 6.3 percent below the May 2024 rate of 665,000.
