Posted To: MND NewsWire

Sales of newly constructed single-family homes slipped slightly in October; the second month sales have declined. The U.S. Census Bureau and Department of Housing and Urban Development reported that the month’s sales were at a seasonally adjusted annual rate of 999,000, a decrease of 0.3 percent compared to September’s revised sales of 1,002,000. New home sales in October were 41.5 percent higher than those in October 2019. Both August and September sales numbers were revised higher in this month’s report. September’s sales were originally reported at 959,000 and August sales, which had been revised down to 994,000 from a much higher original rate, were boosted back up to 1,001,000. October’s sales were higher than expected. Analysts polled by Econoday had forecasts over a range of 935,000…(read more)

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Source: Mortgage News Daily