New home sales plummet

Shocker! New home sales are down:

Sales of newly constructed homes fell 10% in January, sinking to the lowest level on record, according to a government report released Thursday.

The U.S. Census Bureau reported that new home sales fell to a seasonally adjusted annual rate of 309,000 in January from a revised 344,000 in December. It was the lowest level since the Census Bureau began keeping records in 1963. ...

The report also showed that the median sales price of new houses sold in January was $201,000, down 15% from $232,400 a year ago.