U.S. sales of new homes drop in December but up for year

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WASHINGTON (AP) — U.S. sales of new homes slipped in
December for a second consecutive month but even with the pause at the
end of the year, sales for all of 2013 climbed to the highest level in
five years.
The Commerce Department says sales of new homes
dropped 7 percent in December to a seasonally adjusted annual rate of
414,000. In November, sales had fallen 3.9 percent.
For the whole year, sales were up 16.4 percent to 428,000, the highest level since 2008.
It
marked the second year that sales have risen after six consecutive
annual declines as the housing industry was rocked by the collapse of a
housing bubble. Sales of new homes peaked at 1.28 million in 2005.
Analysts expect further sales gains in 2014.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
WASHINGTON (AP) — U.S. sales of new homes slipped in
December for a second consecutive month but even with the pause at the
end of the year, sales for all of 2013 climbed to the highest level in
five years.
The Commerce Department says sales of new homes
dropped 7 percent in December to a seasonally adjusted annual rate of
414,000. In November, sales had fallen 3.9 percent.
For the whole year, sales were up 16.4 percent to 428,000, the highest level since 2008.
It
marked the second year that sales have risen after six consecutive
annual declines as the housing industry was rocked by the collapse of a
housing bubble. Sales of new homes peaked at 1.28 million in 2005.
Analysts expect further sales gains in 2014.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.

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