After reaching the highest level in a decade last month, the yearly rate of new house sales ascended to a new decade-high pace. The Northeast continued to lead the rise.

October saw a preliminary 55,000 new homes sold. With the activity, there have been 525,000 newly constructed single-family properties sold in the first-10 months of this year.

The new house sales data was jointly reported on Monday by the Census Bureau and the Department of Housing and Urban Development.

Source: Mortgage Daily