New Home Sales Drop 2.5%

New home sales fell 2.5% in May, the Commerce Department said Wednesday.

Sales fell to an annual pace of 512,000, from a revised 525,000 in April, Commerce said.

The level matched economists’ forecasts, Bloomberg reported.

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.

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