By Rex Nutting
WASHINGTON (MarketWatch) - Sales of new homes fell 11.3% in November to a seasonally adjusted annual rate of 355,000 as a popular tax break for first-time homeowners was set to expire, the Commerce Department estimated Wednesday. It was the lowest sales pace since April and followed months of steadier sales boosted by the tax break that was set to expire on Nov. 30. The tax credit was ultimately extended until June and expanded to include repeat buyers. November's sales were far weaker than the 421,000 expected by economists surveyed by MarketWatch. The number of unsold homes dropped 2.1% to 235,000, the lowest in 38 years.
