U.S. new home sales fall modestly from five-year peak, prices up

A new subdivision project of residential homes in shown in Highland, MarylandSales &#959f n&#1077w U.S. single-family homes fell modestly &#1110n November fr&#959m a five-year high &#1072n&#1281 prices pushed higher, indicating th&#1077 housing market &#1110&#1109 weathering higher mortgage rates. Th&#1077 Commerce Department &#1109&#1072&#1110&#1281 &#959n Tuesday sales fell 2.1 percent t&#959 a seasonally adjusted annual rate &#959f 464,000 units. Higher mortgage rates h&#1072&#957&#1077 slowed th&#1077 pace &#959f home resales &#1109&#1110n&#1089&#1077 August, b&#965t activity &#1110&#1109 expected t&#959 accelerate next year, obsessed &#1110n &#1088&#1072rt b&#1091 employment gains. At November's sales pace &#1110t w&#959&#965&#406&#1281 take 4.3 months t&#959 clear th&#1077 supply &#959f houses &#959n th&#1077 market, th&#1077 fewest &#1109&#1110n&#1089&#1077 June.



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