New home sales dip in February

U.S. new-home sales decreased 2% to an annual rate of 772,000 in February, the government said Wednesday. That figure represents the number of homes that would be sold over a yearlong period of time if the same number of properties were bought each month based on the rate of sales in February. Compared to a year earlier, sales were down more than 6%. Economists polled by MarketWatch expected new-home sales in February to drop to an annual rate of 805,000.