New Home Sales Fall 2.1% in May

Economists had forecast the May rate to be 310,000, Bloomberg reported.

The median price decreased 3.4% from the same month in 2010 to $222,600.

Sales fell in two of four regions, led by a 27% plunge in the Northeast. Demand slipped 3.5% in the West, was little changed in the Midwest and climbed 2.4% in the South. 

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