“Sales of new homes in the U.S. unexpectedly fell [2.2 percent] in February to a record low [annual pace of 308,000] as blizzards, unemployment and foreclosures depressed the market.”
“[P]urchases dropped in three of four U.S. regions last month, those most likely to have been influenced by the winter storms. Purchases fell 20 percent in the Northeast, 18 percent in the Midwest and 4.6 percent in the South, which includes the Washington area.
Demand climbed 21 percent in the West, pushing the year- over-year increase in that region up to 35 percent, the biggest 12-month jump since March 2004.”
Sales of New U.S. Homes Dropped to Lowest on Record [Bloomberg]

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