Trump Delays Housing Bill Signing as $424,900 Home Prices Keep Buyers Sidelined
Updated
Updated · Fox Baltimore · Jun 26
Trump Delays Housing Bill Signing as $424,900 Home Prices Keep Buyers Sidelined
3 articles · Updated · Fox Baltimore · Jun 26
Summary
Trump canceled a signing ceremony for a bipartisan housing package just before it began, leaving enactment in limbo even though the bill can still become law within 10 days without his signature.
The delay lands as affordability remains strained: new-home sales fell 7.3% in May from April and 6.8% from a year earlier, while the median new-home price rose to $424,900.
Mortgage rates have stayed mostly above 6% since 2022, and Redfin said the typical monthly payment on a median-priced home reached $2,647 in the four weeks ended June 14, near a one-year high.
More listings and record-high seller concessions have given buyers more leverage, but many owners still resist price cuts and avoid selling because they would lose pandemic-era low mortgage rates.
The housing bill aims to cut regulations, speed environmental reviews and remove construction barriers, but industry-backed measures would take years to ease a supply shortage that has persisted since the 2008 crisis.