US new home sales dive 11% in November
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Washington
SALES of new US single-family homes fell more than expected in November, but the housing market remains underpinned by historically low mortgage rates.
New home sales tumbled 11 per cent to a seasonally adjusted annual rate of 841,000 units last month, the Commerce Department said on Wednesday. October's sales pace was revised down to 945,000 units from the previously reported 999,000 units.
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