U.S. new home sales dive in January

WASHINGTON — Sales of new single-family dwellings in the U.S. fell from a 10-month high as sales in the West dropped dramatically in February, according to data from the U.S. Commerce Department, although the general housing picture remains one of recovery. Single-family home sales declined 9.2% to a seasonally adjusted annual rate of 494,000 units, nearly breaking even with December’s steep rise. Western sales plunged 32.1%, the largest percentage decline since May of 2010.