New Home Sales Drop 13.7%
This is a news story, published by CNBC, that relates primarily to the U.S. Census news.
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new home salesCNBC
•Business
Business & Economics
Sales of new homes tanked in May, pushing supply up to a 3-year high

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.
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