Sales of U.S. New Homes Fall for First Time in Three Months
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Purchases of new U.S. houses fell in May for the first time in three months, showing the industry is struggling to gain momentum.
Sales dropped 2.1 percent to a 319,000 annual pace last month, figures from the Commerce Department showed today in Washington. The median estimate in a Bloomberg News survey of economists called for sales at a 310,000 rate. The median price of new homes sold dropped from a year earlier.