According to the latest government release, U.S. housing starts were an incredibly low 791,000 units in October 2008. This was a decline of 65% versus the peak level in January 2006 of 2.273 million units. Even more remarkable than the decline in starts has been the drop in sales. New single-family homes sold have plunged by nearly 70% from 1.389 million units in July 2005 to only 433,000 in the latest month, October 2008. This report goes on to look at unsold inventory and regional markets.