Sales of new homes slump to the lowest level since start of pandemic. High costs and low selection are to blame
July 26, 2021 at 10:13 AM EDT
Sales of new homes in the U.S. fell in June to the lowest level since the first month of the U.S. coronavirus pandemic in early 2020, as high prices and a limited selection frustrated scores of would-be buyers. New home sales dropped 6.6% to an annual rate of 676,000.