Yes, it is only one month's data, yes February has often been volatile, but still, this report is awful:

Sales of [new] single-family homes decreased by 3.9% to a seasonally adjusted annual rate of 848,000, the Commerce Department said Monday. Wall Street expected a 6.7% increase in demand.The drop followed a 15.8% plunge in January and carried the annual sales rate to its lowest level since 793,000 in June 2000. The median home price dipped year over year and inventories grew.

Now having said that, there is this very interesting tidbit:

Keeping new-home sales from falling farther last month was demand in the West, which soared 24.6%

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