New Home Sales Fall to 13-Year Low

WASHINGTON -- Sales of new homes fell in February for the fourth straight month, pushing activity down to a 13-year low as the steep slump in housing continued. The Commerce Department reported Wednesday that new home sales dropped 1.8 percent last month to a seasonally adjusted annual rate of 590,000 units, the slowest sales pace since February 1995. The decline was slightly worse than expected. Read more...

Posted by Editor at March 26, 2008 02:46 PM