New-Home Sales Fall In October As Recovery Remains Choppy

November 23, 2016

New-home sales dipped in October, and downward revisions to sales data from prior months continue to point to a market moving very slowly. Sales ran at a seasonally adjusted annual rate of 563,000, the U.S. Department of Commerce said, down 1.9 percent from the 574,000 pace set in September, which was revised down from 593,000. Since the recession, home builders haven’t ramped up construction of new homes to levels that many analysts believe would nurture a healthier market.

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