WASHINGTON—Sales of new homes in the U.S. rose heading into the summer months, despite high selling prices and low home inventory.
Purchases of newly-built single-family homes—a relatively narrow slice of all U.S. home sales—grew 6.7% to a seasonally adjusted annual rate of 689,000 in May, the Commerce Department said Monday. Economists surveyed by The Wall Street Journal had expected a smaller 0.9% increase.
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