U.S. New Home Sales Grew Robustly in October

U.S. new-home sales grew robustly again in October, after surging in September, a sign of ongoing strong demand and tight inventory. Purchases of newly built single-family homes, a small part of all U.S. home sales, rose 6.2% to a seasonally adjusted annual rate of 685,000 in October from the previous month, the Commerce Department said Monday. Economists surveyed by The Wall Street Journal had expected sales to fall 6.4% in October to a 624,000 annual rate.

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Source: Fox Business

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