U.S. New Home Sales Fell in October
By Maria Martinez
Purchases of new single-family houses in the U.S. slightly
decreased in October. Here are the main takeaways from the Commerce
Department's report released Wednesday:
--New home sales fell 0.3% in October compared with September to
a seasonally adjusted annual rate of 999,000.
--The reading beat economists expectations polled by The Wall
Street Journal, who had expected an increase to a seasonally
adjusted annual rate of 973,000.
--October sales were 41.5% above the same month a year
--September new home sales were upwardly revised to 1,002,000
from an earlier estimate of 959,000.
--Monthly new residential sales data is volatile and often
revised. October's figures came with a margin of error of 13.6
--The median price of a new home was $330,600, up from $322,400
the same month a year earlier.
--The seasonally adjusted estimate of new houses for sale at the
end of October was 278,000. This represents a supply of 3.3 months
at the current sales rate.
Write to Maria Martinez at firstname.lastname@example.org
(END) Dow Jones Newswires
November 25, 2020 10:25 ET (15:25 GMT)
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