Sales of newly built, single-family homes inched up 1.3 percent in October, according to newly released data from the U.S. Commerce Dept., although overall sales activity is well below normal due to tight credit conditions.

WASHINGTON - The pace of single-family home production remained virtually unchanged in February, with a 0.6% decline to a seasonally adjusted annual rate of 499,000 units, according to figures released today by the U.S. Commerce Department. Meanwhile, a large decline on the more volatile multifamily side brought the overall number of housing starts down 5.9% to a seasonally adjusted annual rate of 575,000 units.