New Home Sales Fall 0.6%

New home sales fell 0.6% in May, the Commerce Department said Wednesday.

Sales fell to an annual rate of 342,000 units, from a revised 344,000 in April, Commerce said.

Economists had forecast the rate to rise to 360,000 units, Bloomberg reported.

Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.

New home sales account for about 15% of residential real estate sales.