Entry level buyers drive solid new home sales

Purchases of newly built single-family homes in the U.S. rose 6.2% in October

By Laura Kusisto | The Wall Street Journal

Sales of newly built homes rose in October for the second consecutive month, driven by demand for entry level homes.

Purchases of newly built single-family homes, a small portion of all U.S. home sales, increased 6.2% to a seasonally adjusted annual rate of 685,000 in October from the previous month, the Commerce Department said Monday.

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