US new home sales fall off in May, widely missing expectations

US new home sales dove by 11.3% month-over-month in May, a noticeable difference between expectations for just a 0.2% drop. The US Census Bureau also reported that median new home prices fell to $417,400 in the month.

Catalysts Hosts Seana Smith and Madison Mills sift through the fresh housing data and its relation to elevated mortgage rates and homebuilder sentiments.

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