U.S. new home sales rise
New home sales in the US rose by 1.3 percent in October to an annualized rate of 307,000 units, extending the recovery begun in September after four consecutive months of decreases, authorities said Monday.
Nevertheless, the increase was less than what analysts had expected, having forecast for October an annualized rate of between 310,000 and 320,000 units.
In addition, the Commerce Department revised downward the figure for sales of new homes in September from the 313,000 units initially reported to 303,000.
Despite the comparatively good figures for September and October, the market is still far from the 700,000 sales that experts say are needed to maintain a strong real estate market.
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