"There are signs of life in the [housing] market in certain regions, but we're not seeing a broad-based recovery"
- Michelle Meyer, a senior U.S. economist at Bank of America Corp.
Sales of new U.S. homes declined unexpectedly in February for a second straight month, said the Census Bureau on Friday. The number of new houses sold slid to an annual rate of 313 thousand from 318 thousand in January.
"Despite renewed hopes over the turn of the year for an imminent turn in housing, it appears that it is too early for such optimism to translate into a rapid pick-up in real activity," said Yelena Shulyatyeva, an analyst at BNP Paribas.
"There are signs of life in the market in certain regions, but we're not seeing a broad-based recovery," said Michelle Meyer, a senior U.S. economist at Bank of America Corp. in New York.
"Builders are still competing with existing inventories. The spring selling season should show some modest improvement, but it will be limited."
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