Sold At The Top submits:
Today, the U.S. Census Department released its monthly New Residential Home Sales Report for January showing significant declines on a month-to-month and year-over-year basis resulting in a new home sales level that is far lower than the temporary low seen last year in advance of the government sponsored housing bounce, and in fact, is the lowest level seen in at least 47 years.
New single family home sales plunged 11.2% since December 2009 and 6.1% since January 2009 while median prices have continued to decline dropping 2.44% since January 2009.