February Sales of New U.S. Homes Cap Best Two Months Since 2008
By Lorraine Woellert - Mar 26, 2013 10:00 AM ET ..
Sales of new U.S. houses in February capped the best back-to-back months in more than four years, spurred by near record-low borrowing costs and improving job prospects.
Purchases of newly built homes fell 4.6 percent to a 411,000 annualized pace, following a 431,000 rate in the prior month that was lower than previously estimated, the Commerce Department reported today in Washington. The median estimate of 78 economists surveyed by Bloomberg called for a decrease to 420,000. It was the best two-month showing since August and September 2008.
bloomberg.com
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