U.S. Home Sales Down 5.9% in May

New home sales in the United States declined in May by 5.9% to a seasonally adjusted annual rate of 769,000 units, official data by the U.S. Census Bureau showed on Wednesday.

On an annual basis, sales increased by 9.2% last month.

The number of homes available for sale by the end of last month was up by 4.8%, compared with the end of April.

Median new home selling price reached $374,000 from $365,000.