New-Home Sales See Surprise Bounce

New-home sales took a surprise upward turn in February, the Commerce Department announced today—the first time sales have increased in seven months. But prices continued to tumble. Single-family home sales were up 4.7%, besting analyst expectations of a 2.9% decline. That still left them down 41.1% year-over-year, however. During that year, the median price dropped 18.1%, to $200,900, the Wall Street Journal reports.
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