Sales of new U.S. homes plunged 18.2% in February
Sales of single-family homes dropped to a seasonally adjusted annual rate of 775,000 last month, the Commerce Department reported Tuesday, the slowest sales pace since May of last year.
Every region of the country experienced a drop-off in sales.
The median price of a new home sold in February was $349,400, up 5.3% from a year ago. ■