New Home Sales Fall to Record Low in February

New home sales fell in February to a record low, the Commerce Department said Wednesday.

Sales fell 2.2% to an annual rate of 308,000 units, from a revised 315,000 in January, Commerce said.

Economists had forecast the rate to hold at the 315,000-unit pace, Bloomberg reported.

Bad weather and continued high unemployment contributed to the sluggish rate, Bloomberg said.

Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.

New home sales account for about 15% of residential real estate sales.