New home sales in the U.S. fell by much more than anticipated in the month of December, according to a report released by the Commerce Department on Monday, with sales pulling back further off the five-year high set in October.
The report said new home sales tumbled 7.0 percent to an annual rate of 414,000 in December from the revised November rate of 445,000. Economists had expected sales to dip to 455,000 from the 464,000 originally reported for the previous month.
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