New Home Sales Fall in February

Washington, DC, March 26, 2013 -- New home sales fell 4.6% in February to mark the biggest drop in two years, the Commerce Department said.

However, poor weather may have been a factor.

Sales declined to an annual rate of 411,000 last month from a revised 431,000 in January, the Commerce Department said.

It was the biggest drop since February 2011

However,sales are still 12.3% higher compared to one year ago.