Sunday, March 31, 2013

US New Home Sales Drop as Prices Rise


Sales of new U.S. single-family homes fell more than expected in February after hefty gains the previous month, but steady gains in home prices suggested the housing market recovery remains intact.

The Commerce Department said on Tuesday sales dropped 4.6 percent to a seasonally adjusted annual rate of 411,000 units. Last month's decline followed a 13.1 percent jump in January.

Read more:  US New Home Sales Drop as Prices Rise

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