February 28, 2007
New home sales fall
January new home sales across the nation plummeted 17 percent to an adjusted annual rate of 937,000, the Commerce Department
reported
this morning. It's the lowest level since Feb. 2003, when the rate was 936,000. Sales drops were slightly higher in the Northeast, about 19 percent. The average price of a home increased to $313,000, up from $298,600.
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