Home Sales Probably Dropped to Year’s Low: U.S. Economy Preview

Home sales probably dropped in May to the lowest level of the year, while orders placed with factories climbed, showing housing remains a soft spot as other parts of the U.S. economy recover, economists said before reports this week.

Purchases of new and existing houses decreased 4.8 percent to a 5.11 million annual rate last month, the weakest since November, according to the median forecast of economists surveyed by Bloomberg News. Another report may show bookings for goods made to last at least three years increased after falling in April by the most in six months.