Sales of new, single-family homesfell 14.9 pct in May from April to a seasonally adjusted annual
rate of 616,000 units, the Commerce Department said.
    The department revised April sales downward to show a 1.0
pct increase from March to 724,000 units instead of the
previously reported 7.6 pct gain.
    Last month's drop was the biggest since January, 1982, when
sales fell 19.5 pct and brought the level of sales to its
lowest point since December, 1984, when 597,000 units were
sold, the department said.
    Home sales in May were 20.7 pct below the May, 1986, level
of 777,000, the department said.
    Before seasonal adjustment, the number of homes actually
sold in May totaled 58,000, down from 71,000 in April and
75,000 in May a year ago.
    The average price was 129,600 dlrs in May, up from 117,500
dlrs in April and 114,600 dlrs in May, 1986.
    The median price was 106,800 dlrs, up from 97,900 dlrs in
April and 92,100 dlrs in May a year ago.
 Reuter
