New home sales fall by 4.4% in US
Sales of new U.S. single-family homes fell in February after surging in the prior month, and could decline further because of the coronavirus pandemic which is boosting unemployment and severely disrupting economic activity. The Commerce Department said on Tuesday new home sales dropped 4.4% to a seasonally adjusted annual rate of 765,000 units last month. January's sales pace was revised sharply higher to 800,000 units, which was the highest level since May 2007, from the previously reported 764,000 units. New home sales are drawn from permits and tend to be volatile on a month-to-month basis because of a small sample. Sales jumped 14.3% from a year ago.
Tags : INTERNATIONAL