The February decline followed an even larger 15.8 percent drop in sales in January, which had been the largest one-month plunge in 13 years. The back-to-back declines provided evidence that the housing market is continuing to struggle with lagging demand and a glut of unsold homes.
The weakness in sales pushed the median price of a new home down to $250,000 in February, a drop of 0.3 percent from a year ago. It marked the second straight month that the median price fell compared with the same period a year ago. The median is the point where half the homes sold for more and half for less.
By region of the country, sales were up 24.6 percent in the West, a rebound after a 25.8 percent plunge in January.
However, every other region showed weakness last month, led by a 26.8 percent drop in sales in the Northeast and a 20 percent decline in the Midwest, two areas which experienced a series of winter storm. Sales also fell in the South, dropping by 7 percent.
The performance of new home sales was in contrast to a report last week that sales of existing homes rose in February by the largest amount in nearly three years.
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