US: New-home sales fall to record-low level

Tax credit can’t halt decline to 309,000 annual pace in JanuaryWASHINGTON (MarketWatch) — Sales of new U.S. homes plunged 11.2% in January to a seasonally adjusted annual rate of 309,000, the lowest rate on record dating back to 1963, the Commerce Department estimated Wednesday.The third-straight drop in sales on a month-to-month basis was unexpected. [...] continue reading world news