New Home Sales Down but Trend Is Higher
Sales of new single-family homes declined in December, although the long-term trend remains positive, according to the Commerce Department.
Sales of new single-family homes fell 7.3% to a seasonally adjusted annual rate of 369,000 in December. Economists had forecast sales at 385,000 in December.
However, sales rose 8.8% from December 2011.
November sales were revised up to 398,000 from a prior estimate of 377,000.
The median price of new homes rose 1.3% to $248,900 in December.