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Sales of new homes in California dropped 62 percent in January compared to the year before, an industry group reported today. It's a difference of 2,679 new homes this year vs. 7,109 in January 2007. The numbers come from the California Building Industry Association/Hanley Wood Market Intelligence New Home Sales and Pricing Report. And the year-over-year decline for December was 67 percent, according to a press release from the association. "The winter of 2007-2008 could wind up being the darkest hour for this housing market," Jonathan Dienhart, director of Published Research for Hanley Wood, says in today's press release. Read the full release here.
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