U.S. new home sales fall in October
The Commerce Department said the number of new, single-family homes sold in October fell 2.6% to a seasonally adjusted annual rate of 928,000 units compared to a pace of 953,000 units in September.
October's pace was much stronger than the 909,000 units forecast by Wall Street economists and stood 2.4% above year-ago levels.
Sales of new homes slowed in the West by 8.9%, in the Midwest by 8.2% and fell 2.8% in the South. Sales rose 37.7% in the Northeast, a notoriously volatile region.