New Home Sales Dip Amid Buyer Hesitation

New home sales took a sharp hit in April, plummeting 11.3% year-over-year to 622,000 units as buyers hold off amid rising mortgage rates and economic uncertainty. After a strong March, builders’ incentives like rate buydowns aren’t enough to spark demand. Builder confidence remains shaky due to inflation and global instability, reflected in falling construction starts. The West was the only region to see growth, while the Midwest and Northeast lagged. Inventory of homes not yet started hit a yearly high, signaling a cautious market — but for those ready to buy, there could be great deals amid the slowdown. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d52ef4c01674c5ca