Sales of New Homes Tumble
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The decline was the steepest since records began in 1963, the Commerce Department said. Some economists predict a recovery in the summer. Others are less optimistic.
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New home sales posted the biggest drop on record in 2007, according to the government's latest look at the battered housing market released Monday, as a year that saw a meltdown in the mortgage market and a drop in home values ended with yet more signs of weakness.
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Sales of new homes plunged in August and prices posted their biggest year-on-year drop in nearly 37 years, the Commerce Department reported on Thursday, underlining the depth of problems facing the U.S. housing sector.
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Sales of new U.S. homes were unexpectedly weak last month, although they climbed off an 11-year low, and orders for long-lasting goods fell, according to data Thursday that underscored the economy's weakness.
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WASHINGTON - New home sales plunged in November, but analysts say that a variety of economic reports released Thursday overall paint a positive picture.
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Sales of existing U.S. homes fell more than expected in July, as the housing market took a breather from its record-toppling run, a trade association report showed on Tuesday.
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The number of new US homes built in May fell by more than analysts forecast, official data shows.
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November sales of new US homes fall much more than analysts expected, raising concerns about the economy.
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Sales of new U.S. homes tumbled to a  smaller-than-expected seasonally adjusted 1.072 million  annualized rate in July and a key inventory measure jumped to a  ten-year high, pointing to a rapidly cooling housing market, a  government report showed on Thursday.
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WASHINGTON -- Sales of existing homes fell for the fifth consecutive month in August as the once-booming housing market slowed further.
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The pace of existing home sales in the United States fell in April to a 5.99 million-unit annual rate while inventories swelled, the National Association of Realtors said in a report on Friday that showed more weakness than analysts had expected.
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Sales of new homes fell in June for the first time in four months, and the government also lowered figures for May, providing further evidence the high-flying housing market is losing altitude.
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U.S. new home sales fell more than expected in July to the their lowest pace since December, as higher mortgage rates cooled the housing market, a government report showed on Wednesday.
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Sales of new homes dropped in July by the largest amount since February while the inventory of unsold homes climbed to a record high.
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The bigger-than-expected decline in existing home sales came amid continuing turmoil in mortgage markets.
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Pending sales of previously owned homes plunged 12.2 percent in July and planned lay-offs by companies surged 85 percent in August due to turmoil in the subprime mortgage market, independent reports showed on Wednesday.
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Sales of new U.S. homes fell 16.6  percent in January and prices were little changed as the number  of new homes on the market decreased slightly, according to a  government report on Wednesday showing some weakness in the  unsteady housing sector.