New home sales in the U.S. surged in June for the first time in three months, jumping 1.6% to an annualized 628,000 units—despite stubbornly high mortgage rates. Builders are slashing prices and offering steep incentives to move inventory, pushing the median sales price down 2.7% to $398,000. Companies like D.R. Horton are even lowering future sales forecasts as they grapple with excess supply. While inventory dipped 3.2% year-over-year, it still takes about nine months to sell all existing homes, keeping prices under pressure. The South led the rebound, followed by the Northeast and Midwest, while the West saw a decline—making this a key snapshot of the housing market’s current pulse.
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