Sales of new single-family houses fall as supply edges up

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Sales of new single-family houses in February 2014 fell 3.3 percent month over month to a seasonally adjusted annual rate of 440,000, and were down 1.1 percent from a year ago, according to a report released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

At the February sales rate, the supply of new single-family homes would last 5.2 months, up from 5 months in January and 4.1 months a year before, according to the report.

Source: U.S. Census Bureau