Sales of new one-family houses dropped by 40.7 percent in December compared with sales figures from a year earlier.
According to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new one-family houses last month were 604,000, significantly less than the 1,019,000 sold in December 2006.
Another troubling sign; Home sales dropped nearly five percent from November to December across the nation.
