U.S. New-Home Sales Tumble to Lowest Since April 2020

The video discusses recent trends in the housing market, highlighting a rise in existing home sales and a decline in new home sales. It notes a 6.6% drop in new home sales in June, with prices falling from $374,000 to $361,000. Despite the price drop, the supply of new homes increased from 330,000 to 353,000, affecting prices. The video also explores the impact of these trends on GDP and the potential future implications.

What was the percentage decline in new home sales in June?

How did the average median price of new homes in June compare to the previous month?

What is the current number of new homes for sale mentioned in the text?

What effect is the increase in supply having on the price of new homes?

What role have new home sales played in GDP according to the text?