New Home Sales Slip in December

New home sales fell 7.6% in December, the Commerce Department said Wednesday.

Sales declined to an annual rate of 342,000 units, the lowest since March, Commerce said.

Economists had forecast the annual rate to rise to 366,000 units, from an initially reported 355,000 in November, Bloomberg reported.

Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.

New home sales account for about 15% of residential real estate sales.