New Home Sales Fell Last Month to Lowest Recorded Level reports February sales of new homes was well below what several analysts anticipated, falling 17% from January.  According to the Census Bureau and HUD, sales were especially down in the northeast, decreasing 57 percent.  Although the Mortgage Bankers Association (MBA) saw mortgage applications rise 2.7 percent for last week, the median sales price of new homes declined last month by nearly 14 percent, to $202,100, the largest monthly drop to date.

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