New Home Sales Took a Hit in May

Welcome back, Dreammakers, to Today in Mortgages! In this episode, hosts Michael and Richard discuss the rise in existing home sales in May, but new homes were a different story...Today's article from the United States Census "Monthly New Residential Sales, May 2025" states new home sales fell 13.7% from April. Rich doesn't find this surprising; we are right at the end of a quarter so we expect June to be better. This compares with new home starts which are down about 10%. We predict prices will rise next quarter with the extra tariffs hitting lumbar. Overall, inventory is not the issue, there's more new and existing homes for sale. We just need more affordable interest rates for all those first-time homebuyers to be enticed to buy.  Listen in as we discuss this and more! ______ Grow Your Business: https://join.nflp.com/______Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.See more at TodayInMortgages.comWant to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here. Learn more about Network Funding on our parent site. Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.