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)