U.S. New Home Sales Increase From Downwardly Revised Level In October

After reporting a sharp increase in U.S. new home sales in the previous month, the Commerce Department released a report on Wednesday showing new home sales saw continued growth in the month of October. The report said new home sales rose by 0.4 percent to an annual rate of 745,000 in October after spiking 7.1 percent to a downwardly revised rate of 742,000 in September.

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