The start of autumn did not bring good news to the nation’s housing industry, as new home sales unexpectedly plunged 8.1% in October to a 283,000-unit annual rate — equaling July’s pace, and close to the all-time low of 275,000 hit in August.
A Bloomberg survey had forecast new home sales would rise to a 314,000-unit annual pace in October, after a revised 312,000 pace in September, up from the…
Continue reading New Home Sales Plummet to Near-Record Low
New Home Sales Plummet to Near-Record Low originally appeared on DailyFinance on Wed, 24 Nov 2010 11:55:00.
Filed Under: Economy