(ABM FN-Dow Jones) More new single-family homes were sold in the U.S. in October than a month earlier, while a decline was expected. This was revealed by figures from the US Department of Commerce on Wednesday.
The number of new single-family homes was up 7.5 percent on a monthly basis to 632,000 units. September’s figure was reduced from 603,000 to 588,000.
Economists expect 570,000 new homes to be sold in October.
The number of homes sold in October was 5.8 percent lower than 12 months ago.
The median home price is $493,000 and the median sale price is $544,000.
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Source: ABM Financial News
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