A new home for sale in Palo Alto, Calif. is shown Wednesday, June 24, 2009. New U.S. home sales fell slightly last month, in another sign that the housing market's recovery is likely to be gradual and prolonged. Sales dropped 0.6 percent in May to a seasonally adjusted annual rate of 342,000, from a downwardly revised April rate of 344,000. The results missed economists' expectations of a 360,000 sales pace. AP Photo logo AP Photo 32 months ago

A new home for sale in Palo Alto, Calif. is shown Wednesday, June 24, 2009. New U.S. home sales fell slightly last month, in another sign that the housing market's recovery is likely to be gradual and prolonged. Sales dropped 0.6 percent in May to a seasonally adjusted annual rate of 342,000, from a downwardly revised April rate of 344,000. The results missed economists' expectations of a 360,000 sales pace.

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