Investing.com - Sales of new U.S. single-family homes fell more than expected in January, according to data released on Monday.
The Commerce Department said new home sales fell by 7.8% to a seasonally adjusted annual rate of 593,000 units last month.
Economists had forecast new home sales rising 3.2% to a pace of 655,000 units last month.
New home sales, which are drawn from permits, are volatile from month to month.