New Home Sales Fell 8% in May

Real Estate Sales

For the second straight month, sales of new U.S. homes fell in May, according to data from the Commerce Department, decreasing 7.8% to a seasonally adjusted annual rate of 626,000. That marked the slowest new-home sales pace since December. While they were not as interested in new homes, Americans did increase their purchases of existing homes. Those sales rose 2.5% in May to a seasonally adjusted annual rate of 5.34 million.