U.S. New Home Sales Unexpectedly Dip 0.3% In February

(RTTNews) – New Home Sales in the United States experienced an unexpected decline in February, as per a report published by the Commerce Department on Monday.

The Commerce Department reported that new home sales decreased by 0.3%, reaching an annual rate of 662,000 in February, following a 1.7% increase to a revised rate of 664,000 in January.

Economists had anticipated a 2.9% surge in new home sales, reaching a rate of 680,000, compared to the initially reported 661,000 for the previous month.

Despite the monthly decline, new home sales in February showed a 5.9% increase compared to the same month a year ago.