Housing sales drop in 40 states

By MARTIN CRUTSINGER, AP Economics Writer
2 hours, 46 minutes ago

WASHINGTON - The slump in housing deepened in the final three months of last year with sales falling in 40 states and median home prices dropping in nearly half the metropolitan areas surveyed.

Formerly red-hot areas were among the hardest hit as the five-year housing boom cooled considerably in 2006.