Home
 
Choose Your City
Change City

New home sales at record low

<p><b>WASHINGTON. </b>Sales of new U.S. homes dropped a record 32.7 percent in May to the lowest level in at least four decades — just as the boost from a popular tax credit faded, adding to worries over a slowing economic recovery.</p>

WASHINGTON. Sales of new U.S. homes dropped a record 32.7 percent in May to the lowest level in at least four decades — just as the boost from a popular tax credit faded, adding to worries over a slowing economic recovery.


Single-family home sales tumbled to a 300,000-unit annual rate, the lowest level since the series started in 1963, the Commerce Department said on yesterday.


The gloomy report was the latest to imply that the economy’s recovery from the worst downturn since the 1930s might be losing strength, but few analysts expect a double-dip recession.

 
 
You Might Also Like