After rising by 2% in April, new home sales in the USA plunged by 11.3% in May, according to the Commerce Department, to an annualized, seasonally adjusted figure of 619,000.

The median price of a new home was $417,400, and the average price $520,000. At 481,000, the inventory of new homes ready for sale represents a 9.3-month supply at the current rate.

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