🚀 New Home Sale Prices Fall 13.7%

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. New home sales in the U.S. fell sharply in May, dropping 13.7% from April and coming in far below expectations at a seasonally adjusted annual rate of 623,000 units. That’s the weakest pace since mid-2022 and well under pre-pandemic averages, as persistently high mortgage rates, hovering near 7%, continue to erode affordability. Builders like Lennar and KB Home cited weakened demand, with some reducing prices while others continued to raise them. The slowdown pushed new home supply to a three-year high, with 507,000 units on the market, representing a 9.8 month supply, levels not seen consistently since the 2009 housing crisis.

2. In a major move testing the regulatory edge of U.S. crypto markets, investment startup Republic is launching tokenized representations of shares in SpaceX and other high-profile private firms. Starting this week, retail investors can buy blockchain-based tokens tied to companies like OpenAI, Stripe, and Epic Games for as little as $50, far below the $10,000 minimum and accreditation typically required for private equity. While token holders won’t own actual equity, the structure offers indirect exposure via a legal framework rooted in 1930s securities law. The launch reflects growing pro-crypto momentum under President Trump, with regulators easing enforcement and fostering innovation.

3. The CDC's vaccine advisory panel convened Wednesday for the first time since Health Secretary Robert F. Kennedy Jr. controversially replaced all members with figures skeptical of mainstream immunization policy, including Dr. Robert Malone and others known for promoting vaccine misinformation. New chair Dr. Martin Kulldorff opened by promising evidence-based guidance, even as the panel begins reviewing Covid-19, RSV, and flu shots. Some new members have made disproven claims about vaccine safety, raising questions about the future direction of U.S. vaccine recommendations, despite Kennedy citing “conflicts of interest” as justification for the overhaul.

   Headlines

   1. AeroVironment shares increased by nearly 25% after the drone manufacturer announced that it had beaten earnings expectations in Q1.

   2. Bumble shares rose 26% after announcing that they would be cutting 30% of their workforce.

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