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U.S. sales of new homes drop 7% in December

By The Associated Press

This article was published January 27, 2014 at 11:11 a.m.

WASHINGTON — U.S. sales of new homes fell 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.

Sales of new homes dropped 7 percent in December to a seasonally adjusted annual rate of 414,000, the Commerce Department reported Monday. 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.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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