US Homes Sales

New home sales decreased 12.2% to a seasonally adjusted annual rate of 590,000 units last month, the lowest level since November 2022, the Commerce Department's Census Bureau said

By Lucia Mutikani

U.S. home sales rose a record-breaking 24.7% in July, extending June's rebound after the coronavirus pandemic all but froze the housing market this spring

The cooling in housing activity reflects supply constraints rather than ebbing demand