Single-family home sales dip in October, but up 41% from last year
Sales of new, single-family homes ebbed last month, but are still far ahead of where they were a year ago. October sales fell to a seasonally adjusted annual rate of 999,000, a 0.3 percent drop from September's revised estimate of 1.002 million. But home sales are still up 41 percent from a year ago, according to government data. Americans are continuing to take advantage of record-low mortgage rates to buy new homes, squeezing existing supply.
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