Economic Growth

Commerce Dept: New Home Sales Down 2.1 Percent in November

October numbers revised upward

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While the Commerce Department released a report on Tuesday showing a drop in new home sales in the U.S. in the month of November, sales still came in above economist estimates due to an upward revision to the October data.

The report said new home sales fell 2.1 percent to a seasonally adjusted annual rate of 464,000 in November from the revised October rate of 474,000.