Mumbai, Jan. 14 -- The Commerce Department released a report on Tuesday showing new home sales in the U.S. edged slightly lower in the month of October.
The report said new home sales slipped by 0.1 percent to an annual rate of 737,000 in October after surging by 3.8 percent to an annual rate of 738,000 in September.
The slight decrease came after new home sales reached their highest level since hitting an annual rate of 739,000 in May 2023 in the previous month.
The Commerce Department said new home sales in the West plummeted by 36.3 percent to an annual rate of 109,000.
New home sales in the Northeast also plunged by 14.3 percent to an annual rate of 24,000, while new home sales in Midwest tumbled by 9.0 percent to an annual rate of ...