Texas new home sales ease in June as inventory continues to rise

Texas new home sales declined in June to 6,262 units, down from 6,339 in May and 6,394 year-over-year, as elevated mortgage rates continue to pressure buyer demand. While average prices rose modestly to $426,171 and homes sold faster (116.25 days), pending sales fell 7.1% month-over-month and inventory increased nearly 6% year-over-year, indicating builders are struggling with affordability headwinds.