New Home Sales Fall 10% to Lowest Level on Record

January new home sales fell to the lowest level on record, the Commerce Department said Thursday.

Sales fell 10% to an annual pace of 309,000 units, Commerce said. Economists forecast a drop to a pace of 324,000, 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.