| There is no respite from the gloom in the US housing market, where the number of new homes sold unexpectedly fell last month and prices remain down on the previous year. The disappointing data came a day after the Federal Reserve cited the depressed housing market as a key reason it plans to keep interest rates at zero for almost another three years.
The Commerce Department said yesterday that sales of newly built homes fell 2.2 per cent in December to an annualised rate of 307,000, bringing to a halt three months of modest rises..............................................Full Article: Source |