U.S. new home sales sank in May, falling short of economist forecasts

Sales of new single-family homes dropped 7.3% from April to a seasonally adjusted annual rate of 580,000 units

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Higher mortgage rates and elevated prices appear to have pushed would-be buyers out of the market in May, dragging down new U.S. single-family home sales below what economists had expected, according to Reuters.

The Census Bureau and........

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