WASHINGTON — Sales of new U.S. homes in February climbed to their fastest pace in seven years, as an otherwise dormant housing market showed fresh signs of life.
The Commerce Department said Tuesday that new-home sales shot up 7.8 percent last month to a seasonally adjusted annual rate of 539,000, the strongest performance since February 2008.
January sales were revised up nearly 4 percent to a rate of 500,000.
Read Wednesday’s Arkansas Democrat-Gazette for full details.