New Home Sales in U.S. Probably Declined in May, Ending Talk of Recovery

(Bloomberg) -- Purchases of new homes in the U.S.
probably dropped last month, ending speculation that a jump in
April sales signaled a recovery in demand, economists said
before a government report today.

Sales fell 6 percent to an annual pace of 922,000 in May
from a 981,000 rate the previous month, according to the median
of 71 economists' forecasts in a Bloomberg News survey.
Purchases unexpectedly surged 16 percent in April, the most in
14 years.


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