...the Commerce Department said sales of newly built U.S. homes rose 4.7 percent to a 337,000 annual pace, the fastest increase since last April, from 322,000 in January.
"This completes a trifecta of positive housing reports for February. A sustained increase in housing demand would be the best tonic for the credit crisis and a major sign that the worst of the recession is behind us," said Sal Guatieri, an economist at BMO Capital Markets in Toronto.
Sales of previously owned homes rose 5.1 percent in February, while housing starts soared 22.2 percent that month.
ARTICLE: REUTERS
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