Pursuits
Sales of New Homes in U.S. Declined in May From Eight-Year High
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Purchases of new homes declined in May from an eight-year high as the housing market continued to display the choppy progress that’s been a hallmark of the recovery.
Sales fell 6 percent to a 551,000 annualized pace following a 586,000 rate in April that was slower than previously estimated, Commerce Department figures showed Thursday. The median estimate in a Bloomberg survey called for a 560,000 pace in May.