US new home sales sink to a record low

[27 January 2012, CITY A.M.] On 27 January, Julian Harris writing on CITY A.M. reported that America’s dire housing market plumbed new lows in 2011, recording the worst year on record for sales of new homes. Sales fell 2.2 per cent in the final month of the year, data revealed yesterday, to a seasonally-adjusted annual rate of 307,000 homes. Yet separate figures appear to show that elsewhere in the US economy, the recovery is well on track. 

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