Sales of new single-family homes fell 2.5% to a 512,000 seasonally adjusted annual rate in May, according to data released by the Commerce Department yesterday.

The May figure came after a downwardly revised 525,000 rate in April, a 2.5% drop originally reported as a 2.5% decrease to 526,000. IFR Markets’ poll of economists had predicted a 515,000 sales level for April.

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