New-home sales dip after 4 straight monthly gains

By Derek Kravitz, AP Real Estate Writer



WASHINGTON (AP) -- Sales of new homes dipped in January but the final quarter of 2011 was stronger than first estimated.
The Commerce Department said Friday that new-home sales fell 0.9 percent last month to a seasonally adjusted annual rate of 321,000 homes. That followed four straight months of gains in which home sales rose 10 percent.
The gains came after the government...read more


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