New homes sales rebound in the West, bucking national trend
Monday, March 26th, 2007WASHINGTON - Sales of new homes in most of the country fell sharply for a second consecutive month in February, a weaker-than-expected performance that dimmed hopes for a rebound in the troubled housing market.The news was much better in the western part of the country, where sales jumped nearly 25 percent in February.
The Commerce Department reported Monday that sales of new single-family homes fell by 3.9 percent last month to a seasonally adjusted annual rate of 848,000, the slowest sales pace in nearly seven years.
All regions of the country except the West experienced weakness last month.
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