A bankrupty luxury development in McDonough, Ga. Jessica Nitti
The Census Bureau says sales of new one-family homes fell 0.6 percent last month to an annual rate of 342,000. Sales are down 32.8 percent from the same time last year. New homes for sale in May had been on the market for an average of 11.5 months.
Meantime, orders for durable goods were up 1.8 percent in May. The increase was the third in the last four months. The Commerce Department says machinery had the largest jump, a 7.7 percent increase in new orders from April to May.
categories: Morning Report
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