From Quiver Quantitative: 2025-06-26 00:44:00

Sales of new U.S. single-family homes dropped 13.7% in May, hitting a seven-month low with an annualized sales rate of 623,000 units. Unsold inventory rose to 507,000 homes, the highest level since 2007, due to tariffs on materials and high mortgage rates. Median new home prices increased by 3.0% to $426,600. Builders are responding with price cuts and incentives, but a contraction in residential investment is expected for Q2. Despite some regional resilience, overall builder sentiment is low, signaling caution. With high mortgage rates and economic uncertainty, housing may continue to hinder GDP growth.



Read more at Quiver Quantitative: Housing Inventory Hits Highest Since 2007, Prices Still Climb