New home sales rose in February
WASHINGTON--The U.S. Department of Commerce (www.home.doc.gov) reported that sales of new homes climbed 5.3 percent in February, reversing the previous month's big plunge.
New single-family homes were sold at a seasonally adjusted rate of 875,000 last month, up from an upwardly revised 831,000 units in January, the Commerce Department said.
New home sales were strong in the regions with the greatest volumes of sales, rising 9.9 percent in the South and 6.7 percent in the West. Sales fell 10.1 percent in the Northeast and slid 0.6 percent in the Midwest.