Home sales ticked up in October
Home sales ticked up in October
New single-family home sales rose in October and the supply of homes on the market fell to its lowest level since April of last year, the U.S. Commerce Department said today, Reuters reported. Sales edged up 1.3 percent to a seasonally adjusted 307,000-unit annual rate, which was the fastest pace in five months, though still below analysts’ expectations, Reuters said. The supply of new homes in the market would last 6.3 months at the current pace of sales.
New single-family home sales rose in October and the supply of homes on the market fell to its lowest level since April of last year, the U.S. Commerce Department said today, Reuters reported. Sales edged up 1.3 percent to a seasonally adjusted 307,000-unit annual rate, which was the fastest pace in five months, though still below analysts’ expectations, Reuters said. The supply of new homes in the market would last 6.3 months at the current pace of sales.
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