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- U.S. new home sales edge down in October
U.S. new home sales edge down in October
The U.S.
Commerce Department announced on Wednesday that the sales of new single-family
homes fell 0.3 percent m-o-m to a seasonally adjusted annual rate of 999,000
units in October.
Economists had
forecast the sales pace of 970,000 last month.
September’s
sales pace was revised up to 1,002,000 units from the originally reported 959,000
units.
According to
the report, new home sales in the South, the largest area, declined 2.0 percent
m-o-m in October and sales in the West decreased 1.7 percent m-o-m. Meanwhile, sales
in the Midwest surged 11.2 percent m-o-m and sales in the Northeast increased
5.1 percent m-o-m.
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