New home sales fall 7.6 percent in December

WASHINGTON — Sales of new homes unexpectedly fell 7.6 percent last month, capping the industry’s weakest year on record.

The Commerce Department says December sales fell to a seasonally adjusted annual rate of 342,000 from an upwardly revised November pace of 370,000. Economists surveyed by Thomson Reuters had forecast a pace of 370,000 for December

Read more:  AP