Disappointing New Home Sales in November May Be a Tax Credit Glitch

New homes sales unexpectedly plunged 11.3% in November to a seasonally adjusted annual rate of 355,000, the U.S. Commerce Department announced Wednesday. Demand tapered off as the popular federal first-time home buyer credit was originally set to expire at the end of the month. It was eventually, however, extended by Congress.


The Latest from our Partners