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Sales Of New Homes Fell 2.1 Percent In May

Jun 23, 2011

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Reported by

Mark Memmott

There was a 2.1 percent drop in sales of new homes in May from April, to an annual rate of 319,000, the Census Bureau and Department of Housing and Urban Development just reported.

Sales were up 13.5 percent from May 2010, but that month last year was among the worst in recent times.

As The Associated Press writes, "housing remains the weakest part of the U.S. economy, analysts say. Sales of new homes have fallen 18 percent in the two years since the recession ended. Last year was the worst for new-home sales on records dating back half a century."

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