New Home Sales Rise 1.3% To 307,000 Annual Rate

WASHINGTON — Sales of new single-family houses were up 1.3% to a seasonally adjusted annual rate of 307,000 in October, the highest rate since May when it was 308,000, the Commerce Department reported Monday.

Sales for September were revised down to 303,000 from the initially reported 313,000.

The October rate was below the 313,000 median annual rate projected by economists polled by Thomson Reuters, but 8.9% above the October 2010 estimate of 282,000.

New home sales fell only in the South, where they had declined 9.5%, and the sales remained unchanged in the Northeast.

They were up 22.2% in the Midwest and 14.9% in the West.

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