US new home sales plunge for sixth straight month to lowest level since 2016

Tuesday, August 23, 2022 | Tag Cloud Tags: , ,

construction new homes worthy news

(Worthy News) – Sales of new U.S. homes plunged more than expected in July to the lowest level in six years as rising mortgage rates and the relentless increase in home values slowed activity by edging prospective homebuyers out of the market.

New single-family home purchases tumbled 12.6% to a seasonally adjusted annual rate of 511,000 units, the Commerce Department reported on Tuesday. It marked the sixth consecutive month of declines. Economists surveyed by Refinitiv expected new home sales – which account for a small percentage of total sales – to fall 2.5% last month.

On an annual basis, new home sales are down 29.6%. [ Source: Fox News (Read More…) ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News