"New home sales fell to their lowest level in 13 years in February, according to a key government report on the battered housing market released Wednesday.
February sales came in at a seasonally-adjusted annual rate of 590,000, the Census Bureau report showed, down 1.8% from a revised 601,000 in January and 29.8% from a year earlier.
'These historically low levels show that demand is very weak, but also that we're close to scratching the bottom,' said National Association of Home Builders chief economist David Seiders."
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New home sales slip to 13-year low
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