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Sales of new homes in the US fell to a 12-year low in November, portending bigger declines in construction that will hobble economic growth throughout 2008. Purchases dropped 9 percent to an annual pace of 647,000, the Commerce Department said...

STOCKS finished an erratic week narrowly mixed yesterday after a government report of a steep decline in new home sales stirred concerns that weakness in housing will continue to dog the economy. The Commerce Department report that new home sales fell 9 percent from October to a seasonally adjusted annual rate of 647,000 triggered renewed nervousness that consumers could become uneasy and tamp down their spending. Stocks, which fell more than 1 percent Thursday following unwelcome economic readings and the assassination of Pakistani opposition leader Benazir Bhutto, fluctuated through the day yesterday. The Chicago purchasing managers' index had for a time offered some support to investor sentiment yesterday after it showed a stronger-than-expected increase for December manufacturing activity in the Midwest. But Wall Street appeared unable to hold onto its enthusiasm for too long. Investors are eager for any economic data that can help illuminate whether weakness in the

Sales of single-family homes fell 9 percent last month, the Commerce Department said, for a seasonally adjusted annual rate that is the slowest pace since April 1995.

The Commerce Department reported that new-home sales tumbled by 9 percent in November from October to a seasonally adjusted annual rate of 647,000. That was the worst showing since April 1995, when the pace of sales was 621,000.

WASHINGTON (MarketWatch) -- Sales of new U.S. homes fell by a more-than-expected 9% in November to a seasonally adjusted annual rate of 647,000, the Commerce Department reported Friday. Economists surveyed by MarketWatch were expecting new home sales to drop to a seasonally adjusted annual rate of 710,000 in November. Meanwhile, October's sales rate was revised downward, to rise by 711,000, or 1.7%. They were previously estimated to have risen to a seasonally adjusted annual rate of 728,000. In the past year, sales of new U.S. homes are down 34.4% nationwide.

WASHINGTON (MarketWatch) - New construction of single-family homes slowed to the weakest pace in 16 years in November as U.S. home builders scrambled to reduce their inventories of unsold homes, the Commerce Department reported Tuesday. Starts of single-family homes fell 5.4% to a seasonally adjusted annual rate of 829,000, the lowest since April 1991. Total starts, including the 0.6% rise for multifamily units, fell 3.7% to an annual rate of 1.19 million, the government said. Authorized building permits fell 1.5% in November to a seasonally adjusted annual rate of 1.15 million, the lowest in 14 years. Single-family permits fell 5.6% to 764,000, the lowest in 16 years.

WASHINGTON (MarketWatch) - Builders slashed prices at the fastest pace in 26 years in October, boosting sales of new homes from a much lower level of sales in September than was originally reported, according to Commerce Department data released Thursday. Sales rose 1.7% to a seasonally adjusted annual rate of 728,000 in October from a downwardly revised 716,000 in September, which was a 11-year low. September's sales pace was originally reported as 770,000. August's sales were also revised sharply lower to 717,000 from 735,000 estimated a month ago, and 795,000 estimated in the first release. Sales are down 23.5% in the past year. The October sales pace was much weaker than the 740,000 expected by economists surveyed by MarketWatch.

WASHINGTON (MarketWatch) - The U.S. economy expanded at the fastest pace in four years in the third quarter, growing at an real annual rate of 4.9%, the Commerce Department said Thursday in its second estimate of last quarter's growth. The upward revision to gross domestic product was due to larger inventory building and a better trade balance. It was in line with Wall Street expectations. A month ago, the government pegged third-quarter GDP at 3.9%. Real GDP has increased 2.8% in the past year, close to the economy's long-run potential. Growth was not balanced in the third quarter, with nearly half the growth coming from inventory building and an improvement in the trade balance. Final worldwide sales of U.S. domestic product increased 3.9%, but domestic demand was weaker, growing at a 2.4% pace.

WASHINGTON (MarketWatch) - New construction of U.S. houses rose in October as the multifamily sector rebounded, the Commerce Department estimated Tuesday. Starts rose 3.0% in October to a seasonally adjusted 1.23 million annualized units stronger than the 1.17 million pace expected by economists surveyed by MarketWatch. Starts of large apartment units rose 44.4% in October to 345,000, reversing a 35.9% decline in September. Starts of new single-family homes fell by 7.3% to 884,000. This is the seventh straight monthly decline. Building permits, a leading indicator of housing construction, fell 6.6% to a seasonally adjusted annual rate of 1.18 million. This is the lowest level of permits since July 1993.

THE US economy unexpectedly accelerated in the third quarter as increases in exports, consumer spending and business investment made up for another plunge in home construction. Gross domestic product grew at an annual rate of 3.9 percent in the quarter, the most since the first three months of 2006, against a 3.8-percent pace in the prior quarter, the Commerce Department said yesterday in Washington. The Federal Reserve's preferred price gauge rose more than forecast. Stricter lending rules in the wake of the collapse in subprime mortgages intensified the housing slump at the end of the quarter and threaten to slow consumer and business spending in coming months, economists say. The report suggests Fed policy makers, who may lower the benchmark interest rate later yesterday, might view economic risks as equally balanced between inflation and growth. "The credit crunch hit in August and the economy came into that period in pretty good shape," Stephen Stanley, chief

WASHINGTON (MarketWatch) -- The U.S. economy shook off the worst housing downturn in a generation to grow at a 3.9% annual pace in third quarter, the best performance in six quarters, the Commerce Department estimated Wednesday.

WASHINGTON (MarketWatch) - The U.S. economy shook off the worst housing downturn in a generation to grow at a 3.9% annual pace in third quarter, the best performance in six quarters, the Commerce Department estimated Wednesday. The increase in gross domestic product was better than the 3.4% gain expected by economists surveyed by MarketWatch. Growth was well-balanced in the period from July to September, with strong contributions from consumers, exports, capital spending, military spending, and inventory building. Housing investments continued to be a major drag. Despite rising worries about commodity prices, the GDP price index, the broadest measure of price changes in the economy, rose just 0.8% annualized, matching a nine-year low. Consumer prices rose 1.7%, while core consumer prices, which exclude food and energy prices, rose 1.8%, just within the Federal Reserve's target zone.

The U.S. Commerce Department said sales last month rose by 4.8 per cent to a seasonally adjusted annual rate of 770,000 houses. Economists had been expecting a decline of 2.5 per cent from August.

WASHINGTON Sales of new homes posted an unexpected gain in September although the improvement came after sales had fallen to the slowest pace in more than a decade. The Commerce Department reported Thursday that sales of new homes rose by 4.8 percent last month to a seasonally adjusted annual rate of 770,000 units. That level of activity was still 23.3 percent below a year ago, indicating that housing remains in a steep downturn. Analysts had been expecting sales would fall by 2.5 percent last month from an August sales pace that had originally been reported as 795,000 hom

WASHINGTON (MarketWatch) - Sales of new homes rebounded in September from summer sales levels that were much weaker than previously reported, the Commerce Department reported Thursday. Sales increased 4.8% to a seasonally adjusted annual rate of 770,000 from a revised 735,000 in August. Previously, August's sales had been reported at a 795,000 pace. September's sales were slightly higher than the 758,000 pace expected by economists. The three previous months were revised sharply lower, which means the housing market was much weaker in the middle of the year than previous believed. Sales of new homes are down 23.3% in the past year.

WASHINGTON (MarketWatch) - New construction of U.S. houses retreated for the fourth straight month in September, the Commerce Department estimated Wednesday. Starts fell 10.2% in September to a seasonally adjusted 1.19 million annualized units weaker than the 1.28 million pace expected by economists surveyed by MarketWatch. This is the lowest level of starts since March 1993. Starts of new single-family homes fell by 1.7% to 963,000 in September, while starts of large apartment units fell 34.3% to 228,000. Building permits, a leading indicator of housing construction, fell 7.3% to a seasonally adjusted annual rate of 1.23 million. This is the lowest level of permits since July 1993.

WASHINGTON - New-home sales tumbled in August to the lowest level in seven years, a stark sign that the credit crunch is aggravating an already painful housing slump. Sales of new homes dropped 8.3 percent in August from July, the Commerce Department reported Thursday, to a seasonally adjusted annual rate of 795,000. That was the lowest level since June 2000. "This is just hideous," said Ian Shepherdson, chief economist at High Frequency Economics, a private consulting firm. The home sales report came on the same day that Commerce reported a relatively brisk economic growth rate in revised

The U.S. Commerce Department said sales of new homes fell by 8.3 per cent last month, as sales fell to a seasonally-adjusted annual rate of 795,000.

Reuters - Sales of new single-family U.S. homes fell 8.3 percent in August to a 795,000 annual sales pace, its slowest rate in over seven years, while the inventory of homes dropped, a Commerce Department report showed on Thursday.

The U.S. economy grew at an annual rate of 3.8 per cent in the second quarter, marking a turnaround from weak growth seen in the first three months of the year, the U.S. Commerce Department reported Thursday.