New Home Sales Decline as Builders Grapple with Rising Inventory and Affordability Crisis

The American housing market is facing mounting pressure as new home sales declined 0.6 percent in July to an annualized pace of 652,000 units, according to a new report from Wells Fargo Economics. While the figure beat some expectations due to upward revisions to prior months, the year-over-year picture tells a more troubling story: sales […]