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In flap over S. Carolina law, old tensions and a campaign issue

In flap over S. Carolina law, old tensions and a campaign issue


By Andy Sullivan COLUMBIA, South Carolina (Reuters) - The state that fired the first shot in the Civil War is once again battling the U.S. government in a racially charged conflict that is drawing ...
Divers suspend search of capsized Italy liner

Divers suspend search of capsized Italy liner


By Steve Scherer and Gabriele Pileri GIGLIO, Italy (Reuters) - Divers searching the capsized Italian cruise liner Costa Concordia suspended work on Wednesday after the vast wreck shifted slightly but officials said they are ...
Italy ship search suspended after hulk moves-officials

Italy ship search suspended after hulk moves-officials


GIGLIO, Italy (Reuters) - Italian divers suspended their search of the capsized cruise liner Costa Concordia after the vessel shifted slightly on its resting place near the Tuscan island of Giglio, officials said on Wednesday. ...

A "for sale" sign is seen at a boat yard just off the Milwaukee Harbor in Milwaukee November 2, 2012. REUTERS/Darren Hauck

New home sales fall, housing recovery still on track
New home sales fall, housing recovery still on track
Posted : Friday, 25 January 2013 10:03AM

WASHINGTON (Reuters) - New single-family home sales fell in December although the median sales price rose and the sector still appears set to be a bright spot in the country's economic recovery.

The Commerce Department said on Friday sales dropped 7.3 percent last month to a seasonally adjusted 369,000-unit annual rate. That was below analysts' forecasts of a 385,000-unit annual pace.

Government data for new home sales are subject to substantial revisions.

Indeed, the Commerce Department raised its estimate for sales in November by 22,000 to a 398,000-unit rate, making the pace of sales in November the fastest since April 2010.

The housing sector has been a point of strength in the economy over the last year, and is expected to help offset the economic damage from tax hikes enacted this year.

The median price for a new home rose to $248,900 in December from $245,600 in November, according to figures that are not adjusted for seasonal swings. Rising prices are seen as a sign of improving health in the housing market.

Economists think home building added to economic growth last year for the first time since 2005. Friday's report showed 367,000 new homes were sold last year, the most since 2009.

Still, that number remains about a third of the record number sold in 2005, before a housing collapse helped trigger the 2007-09 recession.

(Reporting by Jason Lange; Editing by Andrea Ricci)

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