April Data Shows Decrease in New-Home Sales Amidst Higher Mortgage Rates
Thursday, 23 May 2024, 14:03
The Impact of Rising Mortgage Rates
The new-home sales data for April unveiled a decrease in the annual rate from 665,000 to 634,000, indicating a challenging market scenario.
Builders Facing Pressure
Higher mortgage rates are taking a toll on builders, leading to difficulties in maintaining sales numbers.
This downward trend may affect the housing market in the coming months, raising concerns for both builders and buyers.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.