Mortgage Rates Set to End Week Much Lower

New home sales pulled back in April after stronger readings in the prior two months. According to the latest Census Bureau and HUD data, sales of new single-family homes fell to a seasonally adjusted annual rate of 622,000 , down 6.2% from March and 11.3% from a year earlier. Inventory moved slightly higher, with the number of new homes for sale rising to 489,000 , up 1.7% from March but still 2.2% below April 2025 levels. At the current sales pace, that left months’ supply at 9.4 months , up from 8.7 months in March and 8.6 months one year ago. Pricing was mixed. The median sales price climbed to $422,500 , up 8.0% from March and 2.2% from a year earlier. The average sales price ticked up to $508,800 , a modest 0.7% monthly gain, though it remained 1.1%