CNN - "New homes slump worsens" (8-24-06)

"Pace of new home sales falls more than forecast as inventory builds, prices decline."

"More alarm bells for the stumbling housing market rang Thursday, as a government report on new home sales showed a bigger-than-expected drop in sales, along with a continued rise in unsold homes and a further weakening of prices in the closely watched sector."

"New homes sold at an annual pace of 1.07 million in July, according to the Census Bureau report, down from the 1.12 million pace in June, which was also revised slightly lower than the original reading."