Category: Department of Housing and Urban Development

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New U.S. home sales in May post solid gain before Fed’s June rate increase: NAHB
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New U.S. home sales in May post solid gain before Fed’s June rate increase: NAHB

After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate hike. Sales of newly built, single-family homes in May increased 10.7 per cent to a 696,000...