WASHINGTON — Sales of new homes slipped slightly in November after a big surge the previous month. The figures add to evidence that the housing market may be struggling to sustain the pace of its recovery.
Sales dipped 2.1 percent in November to a seasonally adjusted annual rate of 464,000, the Commerce Department said Tuesday. In October, new-home sales had shot up 17.6 percent, the biggest monthly gain in more two decades. October’s annual sales pace of 474,000 was the highest since July 2008.
The annual pace of new-home sales remains well below the 700,000 generally consistent with a healthy market.