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

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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 […]

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