Credit unions may face a long haul in building back up their mortgage portfolios if new home sales continue to fall as they did last month.
New home sales fell 2.2% in February, the fourth consecutive monthly drop, the Departments of Commerce and Housing and Urban Development reported today.
February's figures were 12.2% below the rate in February 2009.
In February, the median sales price was $220,500 and the average price was $282,600.
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