Sales of new single-family homes decreased 3.3% to a 440,000 seasonally adjusted annual rate in February, according to data released by the Commerce Department Tuesday.
The increase came after a downwardly revised 3.2% gain to a 455,000 rate in January, originally reported as a 9.6% rise to 468,000. Thomson Reuters' poll of economists had predicted a 445,000 sales level for February.
Sales of new homes were 1.1% below the 441,000 rate in February 2013, Commerce said.
The supply of new homes at the current sales rate grew to 5.2 months from 5.0 months in January.
At the end of February, the number of new homes on the market was up to 189,000 from 188,000.
The unadjusted average price of a new single-family home gained to $317,500 from $312,900.
Meanwhile, the unadjusted median price rose to $261,800 from $260,800 in the previous month.
Sales fell in three of the four regions of the country in the month and rose in one.
Sales in the Northeast slipped 32.4% to 23,000 from 34,000, while sales in the South were off 1.5% to 255,000 from 259,000, and sales in the West dropped 15.9% to 95,000 homes from 113,000 sold a month earlier. Midwest sales grew 36.7% to 67,000 from 49,000.
