New Home Sales, Prices Fall in December

New U.S. single-family home sales unexpectedly fell in December for the first time in four months and the median home price dropped, dampening some of the hopes the housing sector will boost the economy this year. Sales decreased by 2.2 percent to a seasonally adjusted annual rate of 307,000 from November, the Commerce Department said Thursday.

However, a gauge of future U.S. economic activity rose to a five-month high in December as labor market conditions improved, the Conference Board said on Thursday, pointing to continued momentum in the recovery. Full Story

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