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US new-home sales fell in Dec., sales for year up

/ 11:37 PM January 25, 2013

In this Thursday, Dec. 6, 2012, photo a new home is constructed in Pepper Pike, Ohio. U.S. home construction surges 12.1 percent in December to end best year since 2008. AP/Tony Dejak

WASHINGTON — Sales of new U.S. homes cooled off in December compared with November, but sales for the entire year were the best since 2009.

The Commerce Department says new-home sales fell 7.3 percent last month to a seasonally adjusted annual rate of 369,000. That’s down from November’s rate, which was the fastest in 2 ½ years.

For the year, sales rose to 367,000, the most since 2009. Even with the annual gain, sales remain far below the 700,000 level that economists consider healthy.

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The housing market began to recover in 2012, helped by steady job gains and record-low mortgage rates

TAGS: Commerce Department, US Homes
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