US new home sales fall in February

US new home sales fell slightly in February, with January's data revised higher, indicating underlying market strength. Sales slipped 0.3% to 662,000 units, below economists' expectations of 675,000 units. Despite interest rate hikes, the market remains resilient, with builders offering incentives like price cuts. New home sales are a leading indicator of the housing market, and housing completions hit a 17-year high in February, showcasing the sector's strength.