Analysis and Data
Based on data from the Builder Application Survey, new single-family home sales were at a seasonally adjusted annual rate of 620,000 units in June.
Popular migration areas such as Phoenix, Atlanta, Tampa, and Miami have the highest inflation rates in the country.
June decreased to 0.81% from May's 0.85%.
The increase to nearly $60 billion breaks a three-year-long streak of decline.
Confidence, sales and HMI points all plummeted during the month of July.
U.S. homes came down 0.7% from its record-breaking peak in June.
Redfin found that a record share of homebuyers are relocating as high prices and mortgage rates make affordable areas more attractive.
Americans who have never owned a home believe 20% down payments are required.
High mortgage rates are keeping homebuyers reluctant, leading to declining home sales and a build-up of supply.
30-year fixed mortgage moves up to 5.51%