New home sales tumbled 18.2% to a seasonally adjusted annual rate of 775,000 units in the month, according to the Commerce Department.
Experts said a record jump in lumber costs and rising mortgage rates could slow housing sales in 2021.
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During harsh winter weather in February, nationwide sales of single-family homes fell to their lowest in nine months. So reports Reuters.
New home sales tumbled 18.2% to a seasonally adjusted annual rate of 775,000 units in the month, according to the Commerce Department.
Experts said a record jump in lumber costs and rising mortgage rates could slow housing sales in 2021.