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US new home sales fall 6% in May

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/06/2016 (16:40)
According to data released by the US Commerce Department, new home sales in the US fell 6% to an annual rate of 551,000 units in May from the downwardly revised rate of 586,000 units in April. However, the April data is still the highest level seen since February 2008.

The decline in new single-family home sales was driven by 33.3% and 15.6% drops in the Northeast and West, respectively in May. New home sales also edged down 0.9% in the South while sales in the Midwest jumped 12.9% in May.

Meanwhile, the data also showed that US new home sales rose 8.7% compared with 507,000 units in the same period of 2015.
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