CHARLOTTE, N.C. — Sales of new homes remained steady in October to a seasonally adjusted rate of 999,000 units.
While the Commerce Department said October new home sales were down 0.3% from September, the government revised up its September marginally. In all, the figures did not change much from the previous month, a sign that sales of new homes is remaining steady despite the home-buying season now entering the fall.
Sales of new homes are up 41.5% from the same period a year earlier, reflecting record low mortgage rates and a pandemic-induced push to the suburbs has made the housing market a bright spot despite the recession.
The median price of a new home sold was $330,600, the report said.
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More From Star Tribune
More From Business
Business
These are the countries where TikTok is already banned
TikTok is in the crosshairs of authorities in the U.S., where new legislation threatens a nationwide ban unless its China-based parent ByteDance divests. It would be the biggest blow yet to the popular video-sharing app, which has faced various restrictions around the world.
Business
5 cars from the Beijing auto show that reflect China's vision for the future of driving
China's vision of the future of the automobile — electrified and digitally connected — is on display at the ongoing Beijing auto show.
Business
Stock market today: Global benchmarks mostly climb despite worries about US economy
Global shares mostly rose Friday despite worries about the economic outlook and inflation in the U.S. and the rest of the world.
Business
Mining giant Anglo-American rejects BHP Group's $39 billion takeover offer
U.K.-based mining giant Anglo American has rejected a 31 billion pound ($39 billion) takeover offer from BHP Group, saying it significantly undervalues the company and its growth potential.
Business
The TikTok law kicks off a new showdown between Beijing and Washington. What's coming next?
TikTok is gearing up for a legal fight against a U.S. law that would force the social media platform to break ties with its China-based parent company, a move almost certainly backed by Chinese authorities as the bitter U.S.-China rivalry threatens the future of a wildly popular way for young people in America to connect online.