Fri Jun 27 16:30:00 UTC 2025: Here’s a summary of the text followed by a news article rewrite:

**Summary:**

The text discusses the decline in new single-family home sales in May due to elevated interest rates and economic uncertainty. Sales dropped 13.7% compared to the previous month, marking the slowest pace since October of the previous year. Housing affordability is a major concern, pushing potential buyers to the sidelines. While builders are offering incentives, inventory is rising, leading to a high month’s supply. NAHB anticipates builders will reduce construction in the coming months. Regionally, sales are down in most areas except the West. The Florida Realtors also announced the launch of their online education portal, LearnUpon, for GRI certification and other real estate education.

**News Article:**

**New Home Sales Plummet as High Interest Rates Squeeze Buyers**

**WASHINGTON** – Sales of new single-family homes in the U.S. experienced a significant downturn in May, dropping 13.7% as elevated interest rates and lingering economic uncertainty deterred potential buyers, according to recent data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This marks the slowest sales pace since October of last year.

The seasonally adjusted annual rate of 623,000 units reflects the challenging housing affordability conditions that are pushing many to the sidelines. Mortgage rates averaged 6.83% in May, contributing to the slowdown.

“Housing affordability conditions have pushed more buyers to the sidelines,” said Buddy Hughes, chairman of the National Association of Home Builders (NAHB). Despite builders offering incentives like price cuts (37% reported cutting prices in the recent NAHB survey), the housing market continues to slow.

Inventory is on the rise, reaching a 9.8-month supply in May, the highest sales-adjusted inventory level since 2015. This surplus will likely lead to a reduction in housing construction starts in the coming months, according to NAHB Chief Economist Robert Dietz.

Regionally, the Northeast, Midwest, and South saw year-to-date declines in new home sales. The West was the only region experiencing growth.

In related news, Florida Realtors announced the launch of their online education portal, LearnUpon, aiming to provide real estate professionals with opportunities for advanced training and skill development.

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