Sales of recently built homes dropped 7 percent from November to a seasonally adjusted annual rate of 414,000, the Commerce Department said Monday. Novemberís rate was also revised downward from 464,000 to 445,000.
New home sales had been strong recently despite weakness in other housing market indicators, such as sales of previously owned homes. New home sales fell in all regions except the Midwest, where they rose 17.6 percent from November. Sales dropped 8.8 percent in the West, 7.3 percent in the South, and 36.4 percent in the Northeast.
While Decemberís data represent a pullback, last year saw renewed interest among home buyers for new construction.
Sales of new homes rose 4.5 percent from December 2012. By yearís end, an estimated 428,000 new homes sold in 2013, 16.4 percent more than the previous year.
MORE HBJ HEADLINES
Watchdog: Too few air traffic controllers where needed most A $32B tally, but Boeing's 787 costs don't bother Wall Street Czech airline to buy 16 Boeing 737 Max jets Lockheed Martin separating unit, combining it with Leidos Apple forecasts rare sales drop Obama administration loosens Cuba embargo with new measures