United States: Unexpected increase in new home sales in October

Written November 23, 2022, 5:11 p.m

WASHINGTON, Nov 23 (Reuters) – U.S. new home sales rose unexpectedly in October despite rising interest rates and home prices, Commerce Department data showed on Wednesday. .

These sales rose 7.5% to 632,000 units year-on-year after falling to 588,000 units the previous month (revised figure of 603,000).

Economists polled by Reuters forecast an average of 570,000 units.

Over the year, new home sales, which make up about 10% of US home sales, are still down 5.8%. (Reporting by Lucia Mutikani; French editing by Claude Chendjou, editing by Kate Entringer)

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