U.S. new home sales fall more than expected in February

Market news

26 March 2013

U.S. new home sales fall more than expected in February

After reporting U.S. new home sales at their highest level in over four years in the previous month, the Commerce Department released a report on Tuesday showing that new home sales pulled back by more than expected in the month of February.

The report said new home sales fell 4.6 percent to a seasonally adjusted annual rate of 411,000 in February from the revised January rate of 431,000.

Economists had expected new home sales to drop to 425,000 from the 437,000 originally reported for the previous month.

U.S. consumer confidence shows steep drop in March

U.S.: Richmond Fed Manufacturing Index, March 3 (forecast 8)

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