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6/23, 4:00 PM (Source: TeleTrader)
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US new home sales down 5.9% in May

Sales of new homes in the United States dipped 5.9% in May compared to the previous month, the US Census Bureau reported on Wednesday.

According to the new data, sales of new single-family homes stood at a seasonally adjusted annual rate of 769,000, up 9.2% on the year.

The median sales price of new houses sold last month in the US was $374,400, while the average sales price was $430,600.

Breaking the News / JC