US new home sales fall sharply in January
Sales of new U.S. single-family homes fell more than expected in January as persistently high mortgage rates sidelined potential buyers.
Sales of new U.S. single-family homes fell more than expected in January as persistently high mortgage rates sidelined potential buyers.
Single-family homebuilding increased to a 10-month high in December, indicating that construction activity regained some momentum at the end of the year.
Retail sales increased slightly more than expected in October as households boosted purchases of motor vehicles and electronic goods.
Sales of new U.S. single-family homes dropped to a six-month low in May as a jump in mortgage rates weighed on demand.
U.S. retail sales barely rose in May, suggesting that economic activity remained lackluster in the second quarter.
U.S. wholesale inventories fell, confirming that inventory investment was a drag on economic growth in the first quarter.
Declining mortgage rates and incentives from builders are likely to draw potential buyers back into the housing market.