US New Home Sales Drop for 2nd Straight Month in May: Report

May sales were down 7.3 percent from April and 6.8 percent from a year earlier, according to the Census Bureau.

Construction workers build a home at a new housing development in Hercules, Calif., on July 1, 2025. Justin Sullivan/Getty Images

Sales of newly built homes fell unexpectedly in May, marking the second consecutive month-over-month decline, according to a June 24 report from the Census Bureau.

New home sales fell 7.3 percent in May to a seasonally adjusted annual rate of 580,000, down from 626,000 in April, following a 5.7 percent drop the previous month. The sales level is far below market expectations of about 640,000 for May.