Greater than expected drop in U.S. sales of new homes in February

Sales of new U.S. homes fell slightly more than expected in February, according to data released Tuesday by the Commerce Department.

The authorities recorded 440,000 transactions on an annualized basis and according to seasonally adjusted data, the lowest figure in five months. Analysts, meanwhile, expected a drop in sales to 445,000.

This number represents a decrease of 3.3% compared to January sales month that 455,000 transactions (revised down from 13,000 figure) were recorded.