The US economic engine sputtered in May: Consumer spending declined for the first time since January, according to new data released Friday that also showed inflation heated up on an annual basis.

Sales of new single-family homes dropped 13.7% in May compared with April to 623,000 ... That sales total was 6.3% lower than May 2024 and well below both the six-month average of 671,000 and the ...

New home sales dropped 13.7% to a seasonally adjusted annualized rate of 623,000 units last month, a seven-month low, the Commerce Department's Census Bureau said. The decrease was the biggest ...

That sales total was 6.3% lower than May 2024 and well below both the six-month average of 671,000 and the one-year average of 676,000. It also lags the pre-pandemic average in 2019 of 685,000 ...

But moving forward, new homes may be more expensive due to tariffs and high construction costs, Lichtenstein noted. New-home sales plunge to a 7-month low as buyers struggle with high prices.