US new-home sales fell in Dec., finish dismal 2011

WASHINGTON (AP) — Fewer Americans bought new homes in December, making 2011 the worst sales year on record.

The Commerce Department says new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.

Total sales last year were less than the 323,000 sold in 2010, making it the …