Sales of New U.S. Homes Dropped in February to Lowest on Record - Bloomberg.com

Sales of New U.S. Homes Dropped in February to Lowest on Record - Bloomberg.com:

March 24 (Bloomberg) -- Sales of new homes in the U.S. unexpectedly fell in February to a record low as blizzards, unemployment and foreclosures depressed the market.

Purchases decreased 2.2 percent to an annual pace of 308,000, figures from the Commerce Department showed today in Washington. The median sales price climbed by the most in more than two years."