New Home Sales Drop 13% in January

New home sales decreased 13% in January, the Commerce Department said Thursday.

Sales fell to an annual rate of 284,000 units. Economists had forecast the January rate to fall to 305,000 units, Bloomberg reported.

Sales dropped in two of four national regions, led by a 37% decrease in the West.

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.