U.S. Home Sales Drop in May

U.S. sales of new single-family homes in May were at a seasonally adjusted annual rate of 769,000, down 5.9% from April but 9.2% higher than the comparable month last year.

The seasonally adjusted estimate of new homes for sale at the end of May was 330,000, representing a 5.1-month supply at the current sales rate. See U.S. Census Bureau

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