Sales of new single-family homes dropped by 11.3% in May, according to a new report from the U.S. Commerce Department, and the National Association of Realtors says home contract signings have hit a record low. Daryl Fairweather, chief economist for Redfin, joined CBS News to discuss the drop in sales.
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Sales of new single-family homes dropped by 11.3% in May, according to a new report from the U.S. Commerce Department, and the National Association of Realtors says home contract signings have hit a record low. Daryl Fairweather, chief economist for Redfin, joined CBS News to discuss the drop in sales. CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations' top anchors and correspondents working locally, nationally and around the globe. It is available on more than 30 platforms across mobile, desktop and connected TVs for free, as well as CBSNews.com and Paramount+ and live in 91 countries. Subscribe to the CBS News YouTube channel: https://youtube.com/cbsnews Watch CBS News 24/7: https://cbsnews.com/live/ Download the CBS News app: https://cbsnews.com/mobile/ Follow CBS News on Instagram: https://instagram.com/cbsnews/ Like CBS News on Facebook: https://facebook.com/cbsnews Follow CBS News on X: https://twitter.com/cbsnews Subscribe to our newsletters: https://cbsnews.com/newsletters/ Try Paramount+ free: https://paramountplus.com/?ftag=PPM-05-10aeh8h For video licensing inquiries, contact: licensing@veritone.com