Disappointing June U.S. New Home Sales

Inflation is putting cost pressure on materials and labor, says Jason Haber, Broker at Warburg Realty. He and Ken Leon, Global Director of Industry and Equity Research at CFRA, discusses the June U.S. new home sales, as they were disappointing. The new home sales annual rate prior was 724K, it was estimated at 800K, and the actual rate came in at 676k. They also talk about how long high prices can remain in the housing market, and they mention the SPDR Series Trust S&P Homebuild ETF (XHB). Tune in to find out more.