New Home Sales Rise 3.5% in October
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WASHINGTON — Robust sales in the Northeast, Midwest and West helped boost sales of new single-family homes 3.5% in October, the steepest rise since June, the government reported Friday.
Sales were at an annual rate of 733,000 in October, the highest since a rate of 738,000 in February, 1987, according to the Commerce Department’s Census Bureau. The 3.5% rise in October was the fastest increase since June’s 5.4%; it followed a revised decline of 1.4% in September and a revised incline of 2.1% in August.
All figures were adjusted for seasonal variations.
The median sale price of a new home in October was $115,900, with the average price at $140,100, the bureau said.
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