New homes sales fell nearly 15% in December from November to a level not seen since 1981 as builders wait to see what Congress is going to do to help the housing market.

They are also saying low appraisals are causing many cancellations. The U.S. Census Bureau reported that sales of new single-family homes fell from a seasonally adjusted annual rate of 388,000 in November to 331,000 in December.

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