Sales of new single-family homes dropped 4.7% to a 604,000 seasonally adjusted annual rate in December, according to data released by the Commerce Department yesterday.

The December figure came after a downwardly revised 634,000 rate in November, a 12.6% drop, originally reported as a 9.0% decrease to 647,000. IFR Markets’ poll of economists had predicted a 645,000 sales level for November.

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