New home sales decline in December

Sales of new homes fell in December, a drop that missed expectations and signaled the housing market slowed to end the year.

Sales of recently built homes dropped 7 percent from November to a seasonally adjusted annual rate of 414,000, the Commerce Department said Monday. November’s 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 December’s 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 year’s end, an estimated 428,000 new homes sold in 2013, 16.4 percent more than the previous year.

More in Herald Business Journal

Tesla rolls out the design for its 500-mile electric big rig

The truck will have an Autopilot system, which can maintain a set speed and slow down in traffic.

How Airbus’s A380 deal with Emirates evaporated in Dubai

It came down to concern by Emirates that Airbus might shut down the jumbo program.

Trader Joe’s recalls packaged salads over contamination fear

Turkey cranberry salads sold in Idaho, Oregon or Washington are at risk.

Equipment rental and sales business H&E opens Mukilteo shop

Company hopes to capitalize on construction occuring in northwest Washington.

New Chick-fil-A draws dozens of campers in Bothell

A second restaurant of the popular chain is opening on Thursday.

Tulalip Resort Casino to feature locally grown hazelnuts

The resort wanted to put a focus on meals created with the nut.

Alderwood Water general manager named president of state association

Alderwood Water & Wastewater District General Manager Jeff Clarke has been installed… Continue reading

Boeing earns top marks for LGBTQ workplace policies

Boeing was one of 609 businesses nationwide to earn a 100-point score… Continue reading

Aerospace workers adjust to changing industry

The number of Boeing workers dropped almost 10 percent since last year

Most Read