The Real Deal Miami

New single-family home sales down nationwide

June 23, 2010 02:15PM

Sales of new single-family homes are on the decline, according to data released today by the Department of Commerce. New home sales were at a seasonally adjusted rate of 300,000 last month, according to the Commerce report, down 32.7 percent from April’s rate of 446,000 and down 18.3 percent from May 2009’s rate of 367,000. The decline comes on the heels of the federal first-time homebuyer tax credit program’s April 30 expiration, which some analysts had predicted would precipitate a significant decline in sales. TRD