Oddbean

US new home sales dip in June, missing estimates ========== The sales rate of new family homes in the United States dipped in June, missing analyst estimates amid still elevated interest rates; New home sales in June came in at an annual, seasonally-adjusted rate of 617,000, below the 621,000 rate in May and under the 640,000 projected by analysts; Potential buyers are remaining in a holding pattern due to elevated mortgage rates that averaged near seven percent in June; The median price in June was $417,300, up 2.5 percent from the prior reading; Analysts expect that a reduction in the Fed's benchmark lending rate later this year will help mortgage rates decline further, boosting home sales. #UsNewHomeSales #InterestRates #HousingMarket https://www.legit.ng/business-economy/economy/1604098-us-home-sales-dip-june-missing-estimates/