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New Home Sales Decline

Sales of new single-family homes declined to a seasonally adjusted annual rate of 355,000 in November, according to a report released Wednesday by the U.S. Commerce Department. The November pace is down 11.3% from October, and down 9.0% from November 2008.  The report follows by a single day the glowing existing-home sales report from the National Association of Realtors (NAR).  12/23 HCN