WASHINGTON — Sales of U.S. new homes fell in February for the second straight month, a reminder that the depressed housing market remains weak despite some improvement.
The Commerce Department said Friday that new-home sales dropped 1.6 percent last month to a seasonally adjusted annual rate of 313,000 homes. Sales have fallen nearly 7 percent since December.
While a mild winter and three months of strong job growth have lifted re-sales, those conditions haven’t benefited the new-home market. The current pace is less than half the 700,000 that economists consider to be healthy.
Economists cautioned that the housing market is a long way from fully recovering.
No comments:
Post a Comment