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10:00am 03/24/04 U.S. FEB NEW HOME SALES UP 5.8% TO 1.16 MILLION RATE
10:00am 03/24/04 U.S. JAN NEW HOME SALES REVISED TO 1.10M RATE VS 1.11M
10:00am 03/24/04 U.S. FEB NEW HOME INVENTORY 373,000, HIGHEST SINCE 1989
10:00am 03/24/04 U.S. FEB NEW HOME SALES ABOVE 1.09 MLN RATE EXPECTATION
10:00am 03/24/04 U.S. FEB NEW HOME SALES AT FASTEST PACE SINCE AUGUST

U.S. Feb new home sales rise to fastest pace since Aug.
WASHINGTON (CBS.MW) -- Sales of new U.S. homes rose about 5.8 percent in February to a seasonally adjusted annual rate of 1.16 million units, the fastest pace since August, the Commerce Department said Wednesday.
The number of new homes on the market rose about 0.3 percent to 373,000, the highest level in 15 years.
The inventory represents about 3.8 months' worth of sales, down from 4.1 months in January.
January's sales pace was revised lower to 1.10 million from 1.11 million.
Economists were expecting sales to reach the 1.09 million rate in February, according to a survey conducted by CBS MarketWatch.