US new home sales slumped by 2.0 percent to an annual rate of 772,000 in February after plunging by 8.4 percent to a revised rate of 788,000 in January, according to a report released by the Commerce Department on Wednesday, from the 801,000 originally reported for the previous month. With the unexpected drop, new home sales continued to give back ground after reaching their highest annual rate since last March in December.
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