U.S. new home sales hit seven-year high in February

U.S. new single-family home sales soared in February to their highest level in seven years despite harsh winter weather. 

Sales jumped 7.8 percent to a seasonally adjusted annual rate of 539,000 units, the highest level since February 2008, the Commerce Department said on Tuesday. 

Sales in January were revised up to 500,000 units from the previously reported 481,000 units. 

Sales last month soared 152.9 percent in the Northeast, but fell 12.9 percent in the Midwest. Sales in the South jumped 10.1. They fell 6.0 percent in the West.