New Home Sales Drop Slightly In November

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While the seasonally adjusted sales rate decreased slightly in November, attractive mortgage rates and strong house price performance continued to drive new homes sales toward a predicted record year of more than 1 million units for the first time, according to the National Association of Home Builders (NAHB).

The Commerce Department reported a seasonally adjusted annual rate of 1.082 million units, a dip of 2.4 percent from October’s revised rate.

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