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Sales of new U.S. homes plunged 18.2% in February

Christian Fernsby |
Sales of new U.S. homes plunged 18.2% in February as severe winter and a lack of supply took a toll.

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Topics: U.S.   

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.


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