US New Homes Sales Rise 0.4 Percent in October as Prices Climb

US New Homes Sales Rise 0.4 Percent in October as Prices Climb
People walk by a sold sign in front of a house along the Erie Canal in Pittsford, N.Y., York, on Sept. 6, 2021. Ted Shaffrey/AP Photo
The Associated Press
Updated:

WASHINGTON—U.S. sales of new homes edged up 0.4 percent last month, coming in below expectations as housing prices continued to climb.

The Commerce Department reported Wednesday that sales of new single-family homes rose to a seasonally adjusted annual rate of 745,000 last month from 742,000 in September. Economists had expected October’s new home sales to come in at a 795,000 annual pace. And the September sales rate was revised sharply lower from 800,000 in Commerce’s original report.