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| Version 1 | Version 2 |
|---|---|
| US home sales fall to 12-year low | US home sales fall to 12-year low |
| (about 6 hours later) | |
| Sales of new US homes declined much more in November than many analysts had expected, raising concerns about the state of the world's largest economy. | Sales of new US homes declined much more in November than many analysts had expected, raising concerns about the state of the world's largest economy. |
| New home sales fell by 9% to a annual rate of 647,000 in November, a 12-year low, the Commerce Department said. | New home sales fell by 9% to a annual rate of 647,000 in November, a 12-year low, the Commerce Department said. |
| Demand for new homes had been expected to fall as the US goes through its worst property slump in years. | Demand for new homes had been expected to fall as the US goes through its worst property slump in years. |
| Higher interest rates have deterred many buyers, while boosting repayment costs and mortgage default rates. | Higher interest rates have deterred many buyers, while boosting repayment costs and mortgage default rates. |
| The median sale price of a new home fell to $239,100 (£117,000) in November, down 0.4% from the same month a year earlier. | |
| House prices fell in all of the US regions except one, the West. | House prices fell in all of the US regions except one, the West. |
| The Federal Reserve has been cutting interest rates in an effort to underpin economic growth and stave of the threat of recession. | The Federal Reserve has been cutting interest rates in an effort to underpin economic growth and stave of the threat of recession. |
| It last trimmed its main borrowing cost earlier this month to 4.25%, and many analysts are predicting that more cuts will follow next year unless there is a pick up in consumer sentiment and spending. | It last trimmed its main borrowing cost earlier this month to 4.25%, and many analysts are predicting that more cuts will follow next year unless there is a pick up in consumer sentiment and spending. |