U.S. New-Home Sales Fall to Lowest Level on Record

63073.com

Sales of new homes in the U.S. fell in December to the lowest level on record.

From Bloomberg.com

This drop in sales has created an unprecedented glut of unsold properties that cast doubt on any recovery in the industry this year.

Purchases dropped to an annual pace of 331,000 lower than all 70 forecasts in a Bloomberg News survey.