New Home Sales Continue Robust Pace in October As Interest Rates Remain Low

Sales of new single-family homes rose to a seasonally adjusted annual rate of 1.226 million units in October, a 0.2 percent increase above the upwardly revised rate from the month before, the U.S. Commerce Department reported. The rate was 7.4 percent above the sales pace of October 2003.

“The momentum continues in the single-family housing market, thanks primarily to long-term interest rates that remain below 6 percent,” said Bobby Rayburn, president of the National Association of Ho

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