New single-family home sales fell 4.7 per cent in December to its lowest rate in nearly 13 years, a US government report said today.
New home sales fell to an annual rate of 604,000 from a downwardly revised rate of 634,000 in November, the Commerce Department said.
Economists were expecting December sales to fall to an annual rate of 640,000 from the November previously reported rate of 647,000.
In December, the median sales price for a new home fell 10.9 per cent to $219,200 from November. There were 495,000 homes for sale at the end of the month, a 1.4 per cent decline from November.