U.S. New Home Sales Unexpectedly Plunge To One-Year Low In November

New home sales in the U.S. unexpectedly saw a substantial decrease in the month of November, according to a report released by the Commerce Department on Friday. The report said new home sales plummeted by 12.2 percent to an annual rate of 590,000 in November after tumbling by 4.0 percent to a revised rate of 672,000 in October.

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