New home sales fall 7.3% in May

⚽ Welcome to Thursday, the week’s last push before the final whistle.

Today's newsletter is 593 words — a 2.5-minute read. Dive in…

1. Trump cancels signing of housing affordability bill

President Trump canceled plans to sign a bipartisan housing affordability bill on Wednesday, saying he would not support it until Congress passes his SAVE America Act election bill, which would establish a national voter ID requirement.

The 21st Century Road to Housing Act aims to improve housing affordability and development. It passed Congress with strong bipartisan support, clearing the House in a 358-32 vote and the Senate in an 85-5 vote.

2. New home sales fall 7.3% in May

New home sales in May came in at a seasonally adjusted annual rate of 580,000, the Census Bureau reported Wednesday. That’s down 7.3% from April and 6.8% from a year ago, when sales were running at a rate of 622,000.

The median price of a new home sold in May was $424,900, up 2% from April’s $416,500 and nearly unchanged from $424,800 a year earlier. The average sales price rose to $540,600, increasing 7.8% from April and 5% from 2025.

Inventory continued to edge higher, with an estimated 496,000 new homes available for sale at the end of May. That’s up 2.3% from April and represents a 10.3-month supply at the current sales pace, compared with 9.3 months in April.

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3. Catch up quick

⚠️ MBA white paper warns housing supply may outpace demand. (MBA)

🏠 1 in 2 consumers now say it's better to buy than rent. (BofA)

📰 Austin’s top resi agent, Kumara Wilcoxon, buys $9M home amid claims she withheld other offers. (TRD)

4. SERHANT. expands into Texas with 13 founding agents

SERHANT. has officially expanded into Texas, launching simultaneously in Houston, Dallas, Austin, and San Antonio. The expansion marks the firm’s entry into its 17th state.

The brokerage partnered with six independent firms and formed a 13-person founding team that collectively generated nearly $1.5 billion in sales volume over the past year.

The firm said the six brokerage agreements are not acquisitions; instead, each firm independently chose to align with SERHANT. to gain access to its proprietary AI platform, S.MPLE, and media infrastructure.

SERHANT. Texas will be led by Susana Sarvis as Managing Director and Broker of Record, based in the firm’s Houston office.

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5. Home-price growth accelerated in May

Home-price growth accelerated in May, with prices rising 0.3% from the previous month on a seasonally adjusted basis, the fastest monthly increase since January, according to a Redfin report. Annual price growth also increased to 2.5%, the strongest pace in six months.

Home prices rose in 29 major metros in May. In Texas, prices increased month over month in Austin (0.9%), Dallas (0.3%), and Fort Worth (0.3%).

However, Texas metros also recorded some of the largest year-over-year declines nationwide. Austin led the declines at 3.8%, followed by San Antonio (2.4%) and Dallas (2.2%).

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