(Source: CNN Money)

New home sales unexpectedly plunged in November, according to a dismal government report. The seasonally adjusted annual rate of new home sales plummeted 11.3% to 355,000 in November compared to the prior month, a Census Bureau report said Wednesday. Sales of new construction were expected to edge up to an annualized rate of 438,000 for the month of November, according to a consensus of economists surveyed by Briefing.com.

Read the full article by Aaron Smith, “New home sales plunge in November” at CNN Money (Dec. 23, 2009).

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