Stocks jump on new home sales decline -- MSN Money: "New home sales fell 10% from January to February -- and 13.4% from February 2005 -- to a seasonally-adjusted annual rate of 1.08 million units. The median price of a new home fell to $230,400 from $234,200 and was down for a fifth straight month.
All of the monthly change came in two regions of the country:
The West , down 29.4% from January and 27.8% from February 2005. This region extends from Colorado to the Hawaii and Alaska. California's huge market dominates the statistics, and the drop may mean many buyers are balking at the prices.
The South, down 6.4% from January and nearly 10% from February 2005. The Commerce Department defines the South as a broad arc of states from Delaware to Florida on the East Coast across to Texas and Oklahoma."
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