New home sales in the U.S. continued to grow by more than expected in May, posting the strongest sales rate in roughly two years, according to figures released Monday by the Commerce Department.
The department put the sales of new single-family homes in May at a seasonally adjusted annual rate of 369,000, a 7.6 percent increase from April levels.
That puts sales of new homes at their strongest rate since April of 2010.
Most economists had expected April's 3.3 percent rebound in new home sales to be followed by continued growth, but the market consensus had predicted a lower rate of 350,000.
Perhaps contributing to the strong growth in sales, the median sales price of a new single-family home dipped to $234,500 from the April median of $236,000, a 0.6 percent decline.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.