New Home Sales, and Prices Continue to Fall

According to a recent government report, both the sale and the prices of new homes fell again during the month of May, doing nothing to relieve the currently dismal state of the nation’s housing market. The largest drop of home sales occurred in the West, followed by the Northeast. Interestingly, sales in the Midwest and South each experienced an increase. Despite this activity in the housing market, the Fed is expected to maintain the current interest rates.

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