Sales of new US single-family homes unexpectedly rose in October, scaling their highest level in 10 years amid robust demand across the country, offering a boost to the housing market. The Commerce Department said on Monday new home sales increased 6.2% to a seasonally adjusted annual rate of 685,000 units last month. That was the highest level since October 2007. September's sales pace was revised down to 645,000 units from the previously reported 667,000 units. Economists polled by Reuters had forecast new home sales, which account for 11% of overall home sales, falling 6% ...
US new home sales hit 10-year high in October
The commerce department said that new home sales increased 6.2% to a seasonally adjusted annual rate of 685,000 units last month