New Home Sales Drop 5% in January

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ew home sales fell 5% in January to the lowest level in a year, the Commerce Department reported Monday.

The decline to a 1.233 million-homes annual rate from a revised December level of 1.298 million was greater that expected, Bloomberg reported.

Analysts had forecast a dip to a 1.265 million rate, Bloomberg said.

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

New home sales — which account for about 15% of residential real estate sales — fell in three of four regions, rising only in the West.