Washington, DC, Nov. 26, 2014 — Sales of new single-family homes edged up in October to the fastest rate in five months, according to the Commerce Department.
The government reported that new-home sales rose 0.7% in October to a seasonally adjusted annual rate of 458,000.
Economists expected a rate of 469,000 in October, compared with an originally estimated rate of 467,000 in September.
September’s sales rate was revised lower to 455,000.
Sales of new homes in October were up 1.8% from a year ago.