WASHINGTON - New, single-family home sales in October ticked down slightly by 0.3 % from the previous month at a rate of 368,000 units, according to HUD and the U.S. Census Bureau. September sales had been downwardly revised to 369,000 units.
"After steady improvement in home sales through most of this year, the pace of that activity effectively leveled off over the four months from July to October," said NAHB Chief Economist David Crowe. "The latest numbers are right in line with our forecast, which projects that sales will resume a slow, upward trajectory going forward and will end 2012 about 20 percent ahead of 2011."
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