U.S, Feb. 20 -- New home sales in the U.S. saw a notable pullback in the month of December after skyrocketing in the month of November, according to a report released by the Commerce Department on Friday.

The report said new home sales slumped by 1.7 percent to an annual rate of 745,000 in December after soaring by 15.5 percent to an annual rate of 758,000 in November.

Economists had expected new home sales to come in at annual rates of 735,000 in November and 728,000 in December.

The sharp increase in November from a downwardly revised rate of 656,000 in October lifted new home sales to their highest level since February 2022.

The Commerce Department said an estimated 679,000 new homes were sold in 2025, down 1.1 percent from 686,000...