New Home Sales Unexpectedly Rise But Housing Market Still ‘Cratering’—Here’s When Experts Predict Prices Will Fall

Red and white "Home for Sale, Price Reduced" sign in front of a stone, wood house that is for sale.  Green grass and bushes indicate the spring or summer season. Front porch and windows in background. Real estate signs in residential neighborhood.  Moving house, relocation concepts.

New home sales unexpectedly broke a four-month streak of losses and climbed higher than economists had predicted in May, according to data released Friday, but experts say citing rising mortgage interest rates This respite may not last long, which is likely to curb demand—a record price drop likely by the end of this year.

“Don’t be deceived” says one expert about the surprising jump in sales last month: The market is… [+] “rolling over” and “prices are under pressure.”


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