New-home sales fall, 2011 could be worst year yet

A sale sign stands sentry outside an unsold new, single-family home. (David Zalubowski)

August 23, 2011 1:47:57 PM PDT
Sales of new homes fell for the third straight month in July, a sign that housing remains a drag on the economy. If the current pace continues, 2011 would be the worst year for new-home sales on records dating back at least half a century.

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