New Home Sales Jump 6.2% In October

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New home sales increased by much more than expected in the month of October, according to a report released by the Commerce Department on Wednesday, with the report also showing an increase in sales compared to the same month a year ago.

The report showed that new home sales rose 6.2 percent to an annual rate of 430,000 in October from the revised September rate of 405,000. Economists had expected sales to edge up to 404,000 from the 402,000 originally reported for the previous month.

New home sales increased by much more than expected in the month of October, according to a report released by the Commerce Department on Wednesday, with the report also showing an increase in sales compared to the same month a year ago. (Market News Provided by RTTNews)