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Business & Economics

Sales of new homes tanked in May, pushing supply up to a 3-year high

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Summary
Nutrition label

78% Informative

Sales of new single-family homes dropped 13.7% in May compared with April , according to the U.S. Census .

The average rate on the 30-year fixed mortgage hovered around 7% for much of May .

Home builders who reported quarterly earnings recently noted high rates cutting into affordability.

VR Score

88

Informative language

94

Neutral language

63

Article tone

formal

Language

English

Language complexity

48

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

Affiliate links

no affiliate links