New-home sales decline 12.6 percent in January

Sales of newly built, single-family homes declined 12.6 percent to a seasonally adjusted, annual rate of 284,000 units in January, according to newly released figures from the U.S. Commerce Department. The decline largely offsets a big gain in sales activity that was recorded in the previous month due partly to an expiring tax break in California, according to a Feb. 24 NAHB report.

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