Wednesday, March 23, 2011

US homes tumble 16.9%

Sales of new US homes tumble 16.9%

to record low

March-23-2011--WASHINGTON -Sales of new single-family homes collapsed in February, the Commerce Department reported Wednesday, as a combination of high unemployment, tumbling prices and a glut of cheaper alternatives brought activity to a near-standstill.

Video: Buying a New Home Means Paying More; Here's Why

US home sales slump to lowest level since 1960's

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