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US new homes sales surge to ten-year high in October

by ChemOrbis Editorial Team -
  • 28/11/2017 (17:29)
According to data released by the US Commerce Department, new U.S. single-family home sales rose unexpectedly to their highest levels since 2007 in October.

New home sales increased by 6.2% on a monthly basis to 685,000 units in October after a revised 645,000 in September, defying the economists’ expectations of a decrease to 625,000.

The unexpected surge in new home sales was mainly driven by an increase in home sales in the Northeast, where sales posted a rise of 30.2%.
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