New home sales rebound in Feb but signs indicate loss of momentum
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Washington
SINGLE-FAMILY home sales in the US rebounded in February, but the gain was concentrated in one region, which could suggest a loss of momentum in the housing market.
The Commerce Department said on Wednesday home sales rose 2 per cent to a seasonally adjusted annual rate of 512,000 units. January's sales pace was revised up to 502,000 units from the previously reported 494,000 units.
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