U.S. New Home Sales Rise on Gains in West

  • 2/10/2023
  • 15:23
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Washington, Jumada II 14, 1437, Mar 23, 2016, SPA-- New U.S. single-family home sales rebounded in February,the government said Wednesday, but the increase was concentrated in one region,which could suggest a loss of momentum in the housing market. The Commerce Department reportedthat home sales rose 2 percent to a seasonally adjusted annual rate of 512,000units.  January’s sales pace was revisedup to 502,000 units from the previously reported 494,000 units. New single-family home sales surged38.5 percent in the West last month, but plunged 24.2 percent in the Northeastand dropped 17.9 percent in the Midwest. Sales declined 4.1 percent in the South. Economists had forecast new homesales, which account for roughly 9.2 percent of the housing market, climbing toa 510,000 unit-rate last month. --SPA 20:11 LOCAL TIME 17:11 GMT www.spa.gov.sa/w

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