New Home Sales Dip In May As Prices Rise

Posted on June 21st, 2011 by Laura Loane

Fewer Americans bought new homes last month, the latest sign that the struggling housing market won’t rebound this year. The Commerce Department says new-home sales fell 2.1 percent in May to a seasonally adjusted annual rate of 319,000 homes. That’s far below the 700,000 homes per year that economists say must be sold to sustain [...]