US new home sales rise on healthy demand in the West
The increase in new single-family home sales was attributed to a 38.5% surge in the West in February. New home sales plunged 24.2% in the Northeast and 17.9% in the Midwest while sales were also down 4.1% in densely populated South. Apart from the West, home sales fell 8.1%.
New home inventories in the housing market increased 1.7% in February, posting the highest level seen since October 2009.
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