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U.S. New Home Sales Surge 10.9% Amid Price Drop

5/28/2025

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Summary

Story summary

New home sales in the U.S. increased by 10.9% in April 2025, totaling an annual rate of 743,000 units.
The median price for new homes decreased to $407,200, a 2% drop from the previous year.
There were 504,000 homes available for sale, but 14.3% of sales were canceled due to buyer caution.
High mortgage rates averaging 6.73% continue to pressure the housing market, prompting builders to offer incentives.

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Story summary

New home sales in the U.S. increased by 10.9% in April 2025, totaling an annual rate of 743,000 units.
The median price for new homes decreased to $407,200, a 2% drop from the previous year.
There were 504,000 homes available for sale, but 14.3% of sales were canceled due to buyer caution.
High mortgage rates averaging 6.73% continue to pressure the housing market, prompting builders to offer incentives.