U.S. New Home Sales Rose 2.1% In May
(For May 2011)
U.S. new home sales fell 2.1% to 319.000 SAAR; Consensus was at 305.000 SAAR, prior reading (revised upward 3.000) was at 326.000 SAAR.
Month of supplies fell from revised 6.3 to 6.2 months. Backlog of unsold new homes is at 166.000.