From The Associated Press, 1/28/08:
http://www.newsday.com/news/nationworld/wire/sns-ap-newsbrief,0,1411218.story
New Home Sales Fall by Record Amount
WASHINGTON (AP) --
Sales of new homes plunged by a record amount in 2007 while prices
posted the weakest showing in 16 years, demonstrating the troubles
builders are facing with a huge backlog of unsold homes.
The Commerce Department reported Monday that sales of new homes
dropped by 26.4 percent last year to 774,000.
That marked the worst sales year on record, surpassing the old mark of
a 23.1 percent plunge in 1980.
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Harry
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