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| Version 0 | Version 1 |
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| US home sales fall at record pace | US home sales fall at record pace |
| (10 minutes later) | |
| Sales of new US homes fell at a record pace in 2007, figures from the US Commerce Department have shown. | Sales of new US homes fell at a record pace in 2007, figures from the US Commerce Department have shown. |
| The number of new homes sold sank 26.4% to 774,000, which beat the previous record fall of 23.1% set in 1980. | The number of new homes sold sank 26.4% to 774,000, which beat the previous record fall of 23.1% set in 1980. |
| The report also showed that new home sales in December fell 40.7% from the same month in 2006 to a seasonally adjusted annual rate of 604,000. | The report also showed that new home sales in December fell 40.7% from the same month in 2006 to a seasonally adjusted annual rate of 604,000. |
| The weakness in the US housing sector has led some analysts to fear that the economy is heading for a recession. | The weakness in the US housing sector has led some analysts to fear that the economy is heading for a recession. |
| "It's a pretty big drop and it clearly shows the housing market continues to deteriorate," said Kurt Karl, chief US economist with Swiss Re. | |
| "Supply is building up and there's no indication demand will catch up anytime soon." |