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Nov. 25, 2020, 10:09 a.m. EST

New U.S. home sales tick lower in October, but remain 41.5% higher than a year ago

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By Chris Matthews

Sales of newly built single-family houses occurred at a seasonally-adjusted annual rate of 999,000 in October, the government reported Wednesday. That was 0.3% below the revised pace of 1,002,000 in September. Analysts polled by MarketWatch had forecast new-home sales to occur at a seasonally-adjusted annual rate of 980,000. Newly constructed homes continue to sell at a very healthy clip, with October's numbers 41.5% higher year-over-year, and the September revision indicates two consecutive months of more than 1 million sales, a feat not reached since the height of the real estate bubble in 2006.

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