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Pace of New Home Sales Reaches 13 Year Low 

Mar 26, 2008By

(Update 1: adds NAHB comments) Sales of new homes dropped again in February, the fourth straight month of decline, reaching a sales pace not seen since February 2005. New home sales fell 1.8 percent in February to a seasonally-adjusted annualized rate of 590,000 units, the Commerce Department reported Wednesday morning.

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