New-home sales sputter in February

Sales of new single-family homes in February fell to a seasonally adjusted annual rate of 250,000, according to a report released Wednesday by the U.S. Census Bureau.

The February stat is the lowest since the government began keeping track in 1963.

New-home sales for the month are 16.9% below the revised January rate of 301,000 and 28.0% below the estimate from February 2010.

Also, the report estimated the median sales price of new homes sold in February was $202,100, the lowest since December 2003.