A Nasty Surprise on New Home Sales


Those McMansions aren't moving like they used to. Wall Street was caught by surprise on Mar. 26 with the release of a Commerce Dept. report showing a 3.9 percent drop in U.S. new home sales in February, to a 0.848 million unit annual pace. And the back data for new home sales since November were revised considerably lower as well. The headline figure was well short of the 1.0 million median forecast of economists revealed