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Bloomberg: U.s. Feb. New Home Sales Fall 10.5%

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March 24 (Bloomberg) -- Sales of new homes in the U.S. had the biggest drop in almost nine years in February and the number of properties on the market rose, evidence the housing market is cooling after a five-year boom.

Sales fell 10.5 percent to an annual rate of 1.08 million, the lowest since May 2003, from a revised 1.207 million in January. The number of homes for sale rose to a record 548,000 from January's 525,000.

Builders such as KB Home say orders are falling as higher interest rates make home-buying less affordable for some Americans. At the current sales pace, there were enough new homes on the market to satisfy demand for the next 6.3 months, the largest amount in more than a decade.


Oops there was another thread, but this is a different source and a fuller story.

Edited by DoubleBubbleTrouble

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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