New Home Sales Fall Again

New home sales plunged 8.3% in August, the Commerce Department said Thursday.

Prices fell by the most since 1970, Bloomberg reported.

The decline was to an annual rate of 795,000 from 867,000 in May, Commerce said.

The drop was more than economists’ forecasts of a decline to 825,000, 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.