February sales of new California homes weak

State tax credit for new homes in demand

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February sales of new homes in California were down 54 percent from a year ago, but showed modest improvement from January, the California Building Industry Association said.

Sales of single-family homes and townhomes were both down 55 percent from a year ago, while sales of condominiums were off 51 percent. That’s still an improvement from January, when sales in new-home communities of 10 units or more were down 64 percent from a year ago.