NewHomes

Fewer people bought new homes in December, making 2011 the worst sales year on record. The Commerce Department said Thursday new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.

The notice on the Web site for the International Builders Show, being held in Las Vegas this week, pretty much says it all: "As a result of tight credit and a soft market for high-end homes in Las Vegas, The New American Home 2010 will not be completed in time for tours during the International...