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LAYNE SMITH/DMNThe flood of foreclosed homes has affected almost every neighborhood in North Texas. Check the map to see how your area is affected.

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PAUL SAKUMA/APSo far in 2009, the rate of home foreclosure growth has slowed dramatically in the Dallas-Fort Worth area. But economists and real estate analysts worry that a surge in local layoffs could lead to more homes lost later this yearBreakdowns: |

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Sales of newly constructed homes fell 10% in January, sinking to the lowest level on record, according to a government report released Thursday.

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Foreclosures and sales of other distressed properties pushed prices down further in January and lower prices spurred more sales, which are starting to shrink the number of existing homes for sale. But no bottom is in sight.

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Percentages of homes for sale that are in foreclosure.

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US new home sales dropped 10.2 percent in January from a month earlier to the lowest monthly level on record, the government said Thursday.

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JACKSON COUNTY, MS (WLOX) - If you want to buy a home, now’s the time to do it. “There’s a lot more homes for sale than there are buyers out there,” explained John Jones, the founder of John Jones Realty. “Then the buyers are able to get a deal on a house.”

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Realtors are expecting to see an increase in homes for sale after Micron’s announcement to cut two thousand jobs by the end of the summer.

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They hit decade lows but analysts expect the housing market to improve soon.

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Sales of previously owned U.S. homes plunged in January, reversing the previous month’s surprise jump, and prices spiraled down to a six-year low as the deep recession and rising joblessness took its toll.

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