Sales of new single-family homes fell 2.5% last month to an adjusted annual rate of 512,000, according to the Department of Commerce.
May home sales declined from April’s revised rate of 525,000 homes sold.
Economists surveyed by MarketWatch had estimated that 510,000 new homes were sold last month.
New-home sales were down 40.3% compared with May 2007.
The median sales price for homes sold last month was $231,000, down 6% from a year earlier.
Inventories of unsold homes fell 18% to 453,000 at the end of last month.
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