US new-home sales fell in December, but 2012 finished as best year for sales since 2009.
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Sales of new U.S. homes cooled off in December compared with November, but sales for the entire year were the best since 2009.
The Commerce Department says new-home sales fell 7.3 percent last month to a seasonally adjusted annual rate of 369,000. That's down from November's rate, which was the fastest in 2 ½ years.
For the year, sales rose to 367,000, the most since 2009. Even with the annual gain, sales remain far below the 700,000 level that economists consider healthy.
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The housing market began to recover in 2012, helped by steady job gains and record-low mortgage rates.