Sales of new U.S. single-family homes surged to more than a three-year high in April as builders lowered prices to attract buyers, but rising mortgage rates and economic uncertainty remained headwinds for the housing market.

Sales of previously occupied U.S. homes fell in April, as elevated mortgage rates and rising prices discouraged prospective home shoppers during what’s traditionally the busiest time of the year for the housing market.

Sales of previously owned homes in April declined 0.5% from March to a seasonally adjusted, annualized rate of 4 million units, according to the National Association of Realtors. That is the slowest April pace since 2009.

McDonald's is closing its line of CosMc's drink shops after less than three years. McDonald's reported lagging sales earlier this month.

US new-home sales rose unexpectedly in April to the highest level since February 2022, likely helped by builder incentives aimed at alleviating affordability challenges.

Home sales fell in April, as mounting economic uncertainty and steep housing costs pushed buyers away for a second straight month. Existing-home sales fell 0.5% from March to a seasonally adjusted annual rate of 4 million.

Sales of existing homes slowed in April compared to March, as rising prices and high mortgage rates put a damper on demand.

Saudi state oil giant Aramco is exploring potential asset sales to free up funds, two people with knowledge of the matter said, as it pursues an international expansion and weathers lower crude prices.