(WASHINGTON) -- February saw a drop in new home sales and the government says average prices fell, as well.
This is the third straight monthly decline for new home sales and another sign the housing slump is still a big drag on the economy. "The latest numbers for new home sales is a 16-point-nine per cent drop from the January figure. This is a new record low in new home sales at a rate of 250-thousand per year," according to David Crowe of the National Association of Homebuilders.
The number of sales is well under half the amount considered by economists to be a healthy market.
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