Economics
Purchases of New Houses in U.S. Probably Decreased in May
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Purchases of new houses probably dropped in May for the first time in three months, showing the real-estate market is struggling to gain traction.
Sales decreased 4 percent to a 310,000 annual rate last month, according to the median forecast of 67 economists surveyed by Bloomberg News. Another report may show applications for unemployment insurance benefits were little changed last week.