Industry News & Links of the Day – 02/28/11

USA Today – New-home sales in January drop 12.6% – Sales of new homes fell significantly in January, a dismal sign after the worst year for that sector in nearly a half-century.

Forbes – Top 8 House-Hunting Mistakes – Buying a home is a very emotional process, and allowing those emotions to get the best of you can cause you to make any number of mistakes.

Portland Press Herald – New-Home Sales Plunge, Creating Drag on Economy – Sales of new homes plummeted in January, and businesses ordered fewer long-lasting goods. But the number of people applying for unemployment benefits has fallen over the past four weeks to the lowest level in 2½ years.

CNN Money – Gas prices: ‘Most expensive February ever’ – Gas prices jumped 6 cents overnight, as the recent spike in oil prices begins to hit filling stations across America.  The national average price for a gallon of regular gas rose 5.9 cents to $3.287.

Fox Business – Consumer Sentiment Rises to 3-Year High – U.S. consumer sentiment rose to its highest level in three years in February, helped by an improving view of the labor market recovery, a survey released on Friday showed.