New Home Sales Took a Dive in October

Economic conditions again took their toll on new home sales, sending them downward 8.1 percent to a seasonally adjusted annual rate of 283,000 units in October, according to a release from the U.S. Department of Commerce; the revised September estimate was 308,000. October's decrease was the fourth in six months, and the current figure is 28.5 percent below the October 2009 estimate of 396,000.

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