Financial Times FT.com

Sharp falls in sales of new US homes

By Eoin Callan in Washington

Published: February 28 2007 15:01 | Last updated: March 1 2007 03:16

Americans bought far fewer new homes last month, according to government data released on Wednesday that showed sales fell at the fastest rate in 13 years.

Sales of newly built homes fell 17 per cent as the backlog of houses standing empty remained stubbornly high, figures from the Commerce Department showed.

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