The sale of new single-family properties turned North last month, and it was the South that was responsible for most of the gain. A shift in pricing patterns was detected.

New home sales during May numbered a preliminary 65,000, according to data jointly released Monday by the Census Bureau and Department of Housing and Urban Development.

Last month’s sales volume brought the total number of new U.S. home sales completed from Jan. 1 through May 31 of this year to 294,000 units.

Source: Mortgage Daily