Sales of New Homes Fall 2.2% in November

Sales of new U.S. homes fell for the second straight month in November, the government said in a report suggesting a slowing but still strong U.S. housing market. The number of new, single-family homes sold in November fell 2.2% to a seasonally adjusted annual rate of 909,000 from 929,000 in October, the Commerce Department said. The figure was below analyst estimates of 913,000 units. Although the U.S. housing market has softened along with the rest of the economy, home sales have remained near record levels, bolstered by a steady decline in mortgage rates beginning in mid-2000. November sales were up 1.6% from a year ago. The median price of new homes fell slightly to $169,900 from $170,000 in October. The median price a year ago was $172,900.