New Home Sales Above Year-Ago Levels

(AP) -- Sales dipped in October from the previous month, but remain well above year-ago levels. Low mortgage rates have helped drive sales higher by giving would-be buyers more pricing power. Economists forecast that new home sales rose to a seasonally adjusted annual rate of 737,000 units last month.

New home sales, seasonally adjusted annual rate, by month:

June 729,000

July 660,000

Aug. 706,000

Sept. 738,000

Oct. 733,000

Nov. (est.) 737,000

The November report is scheduled for release on December 23, 2019.

(KR)