New home sales declined sharply last month, dropping a significant 17.3% in October, from a September increase of 4.1%, likely due, analysts say, to a rebound in mortgage rates and increased competition from the existing home market.
Workers build the frame of a new house project. Bare plywood and beams as it is framed up from the foundation. High lumber costs have affected the building process. Shot in Washington state, USA.
New home sales declined sharply last month, dropping a significant 17.3% in October, from a September increase of 4.1%, likely due, analysts say, to a rebound in mortgage rates and increased competition from the existing home market.
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