US new home sales surpassed March estimates, reporting 693,000 sales month-over-month while falling 2% on an annual basis. The inventory crunch and relatively high mortgage rates have subsequently put a bind on the US housing market, which may be opening up more buying opportunities for new homes.
Additionally, S&P Global’s US Manufacturing Purchasing Managers’ Index (PMI) fell below estimates with a reading of 49.9 for April.
Yahoo Finance’s Seana Smith and Madison Mills break down the fresh data prints.
#news #youtube #realestate
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
