{"id":1548790,"date":"2025-07-24T14:10:42","date_gmt":"2025-07-24T18:10:42","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1548790"},"modified":"2025-07-24T14:10:42","modified_gmt":"2025-07-24T18:10:42","slug":"us-new-home-sales-disappoint-in-june-as-prices-plunge","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/us-new-home-sales-disappoint-in-june-as-prices-plunge\/1548790\/","title":{"rendered":"US New Home Sales Disappoint In June As Prices Plunge"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">US New Home Sales Disappoint In June As Prices Plunge<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>Following yesterday&#8217;s disappointing existing home sales print, this morning sees new home sales confirm the disappointment with a mere 0.6% MoM rise (well below the 4.3% MoM rebound expected after tumbling 11.6% MoM the month prior)&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/bfm474D.jpg?itok=1NU-oif7\"><\/a><\/p>\n<p>Source: Bloomberg<\/p>\n<p>That is the worst YoY decline in new home sales since Oct 2024, leaving the total SAAR at 627k &#8211; hovering near post-COVID lockdown lows and well below expectations&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/bfm161.jpg?itok=1P9yLdrT\"><\/a><\/p>\n<p>Source: Bloomberg<\/p>\n<p>The Median <strong>new home prices plunged in June (near 5 year lows)<\/strong>, now well below that of existing homes&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/image%20%2814%29_11.png?itok=geB9ObR7\"><\/a><\/p>\n<p>Source: Bloomberg<\/p>\n<p>This week, Atlanta-based PulteGroup relieved investors by posting better-than-expected earnings, despite reporting a slowdown in new home orders.<\/p>\n<p>Sales incentives have grown to 8.7% of its houses\u2019 gross sale price, more than double a \u201cnormal\u201d incentive load, executives said on an earnings call.<\/p>\n<p><em><strong>\u201cI long for the days of more normal incentive loads of kind of 3% to 3.5%,\u201d <\/strong><\/em>Chief Executive Officer Ryan Marshall said on the earnings call.<\/p>\n<p><em>\u201cHopefully as we get out into kind of future years, that will become possible again.\u201d<\/em><\/p>\n<p>Thursday\u2019s government report showed the <strong>supply of new homes for sale in June increased to 511,000, still the highest level since 2007<\/strong>.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/bfmC323_1.jpg?itok=GhfRTH0D\"><\/a><\/p>\n<p>Source: Bloomberg<\/p>\n<p>And for those hoping for rate-cuts to fix all this, think again&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/bfmEAC.jpg?itok=cIh4K2i6\"><\/a><\/p>\n<p>Source: Bloomberg<\/p>\n<p>Rate cuts have steepened the yield curve and pushed mortgage rates up; but as the chart above shows, the relationship between home sales and actual mortgage rates has decoupled in recent weeks&#8230;<\/p>\n<p>So be careful what you wish for.<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Thu, 07\/24\/2025 &#8211; 10:10<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/personal-finance\/us-new-home-sales-disappoint-june-prices-plunge\" target=\"_blank\" class=\"\">https:\/\/www.zerohedge.com\/personal-finance\/us-new-home-sales-disappoint-june-prices-plunge<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US New Home Sales Disappoint In June As Prices Plunge Following yesterday&#8217;s disappointing existing home sales print, this morning sees new home sales confirm the&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1548791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1548790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1548790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1548790"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1548790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1548791"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1548790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1548790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1548790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}