New Home Sales Drop 6 Percent, Report Says

A recently released New Home Sales Report for May reported sales of newly built homes dipped 6 percent from the level in April, but rose 8.7 percent since May 2015.
The report, a joint release by the Census Bureau and the Department of Housing and Urban Development shows new single-family sales dropping after reaching a 8-year high the previous month.
Sales of new single-family houses in May 2016 were at a seasonally adjusted annual rate of 551,000. This is 6.0 percent below the revised April ra