U.S. new home sales miss estimates

Sales of new single family homes in the U.S. by 1.6 percent to a seasonally adjusted annual rate of 842,000 units in December, according to the U.S. Commerce Department. That was less than the 1.9 percent rebound forecast by economists in a Reuters poll, who projected a pace of 865,000 units. November’s rate meanwhile was revised down to 829,000 units, from the preliminary figure of 841,000 units.