According to a government report the sales of new home tumbled 9.2 percent in January, which turned out to be below Wall Street forecasts and raised worries about rising interest rates and the nation's housing market.

Sales of new one-family homes fell to a seasonally adjusted annual rate of about 1.11 million in January from a revised December rate of 1.22 million, the Commerce Department said.

By region, sales posted the sharpest drop in the Midwest in January, down 40.3 percent, and fell 17.1 percent in the Northeast, the department said in its report.

The median price of new homes sold in January 2005 hit $199,400 and the average price for all homes was $281,900, according to the department.

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I think my home town is the exception to the rule right now. there is a lot of new construction going on here. Makes me wish I was in the construction business. My guess would be that there is a lot going on in New Orleans after the hurricane too.