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U.S. new home sales up 1.3 pct in October

Posted on 29 November 2011

Steven WoodAmericans bought slightly more new homes in October but prices fell, according to the US Commerce Department. New-home sales increased 1.3% last month to a seasonally adjusted annual rate of 307,000.
However, the figure is less than half the 700,000 annual rate that experts believe is needed to sustain a recovery. The average price of a new home fell 0.5% to $212,300 (£136,000)………………………………………..Full Article: Source


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