Mortgage Rates Recover Modestly From Long-Term Highs
New home sales rebounded modestly in June, recovering some of the previous month's decline, though activity remained below year-ago levels as elevated mortgage rates and affordability challenges continued to weigh on demand. According to the latest Census Bureau and HUD data, sales of new single-family homes rose to a seasonally adjusted annual rate of 628,000 , up 1.6% from May but 5.6% lower than one year earlier.
In the bigger picture, this sector has been broadly flat ever since the post-covid volatility died down in early 2023.
Inventory edged slightly lower during the month. The number of new homes for sale slipped to 485,000 , down 0.2% from May and 3.2% below June 2025 levels. At the current sales pace, that translated to a 9.3-month supply, down from 9.4Categories
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