New Home Sales Plummet in January, Post Largest Monthly Decline in 13 Years

More bad economic news:

Sales of new U.S. homes fell 16.6 percent in January and prices were little changed as the number of new homes on the market decreased slightly, according to a government report on Wednesday showing some weakness in the unsteady housing sector.

The monthly decline was the sharpest in 13 years, since a 23.8 percent drop-off in January 1994.