A surge in new home sales in the South and the West was enough to offset a plunge in residential sales in the Northeast and Midwest.

On a preliminary basis, the sale of 58,000 new, privately owned, single-family houses were completed during all of May 2017.

New home sales edged up from an upwardly revised 57,000 the one month prior and an upwardly revised 53,000 one year prior.

Source: Mortgage Daily