New-home sales spike nationwide

home-prices.gi.topKristena Hansen | Phoenix Business Journal

New-home sales throughout the nation rose 25 percent in October — the biggest month-over-month increase in more than three decades — the U.S. Commerce Department said Wednesday. That brought the October figure to a seasonally adjusted annual rate of 444,000. The big spike follows a 6.6 percent sales slip between August and September to an annual rate of 354,000. (The data was not available on at a state or local level.)

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