New-Home Sales Increase to a Six-Month High
New-home sales in October rose to the highest level since April, according to a Commerce Department report.
New-home sales in October rose to the highest level since April, according to a Commerce Department report.
Existing home sales in October rose to the highest level since January, according to a Monday report from the National Association of Realtors.
Residential builders are still being challenged by a lack of materials and workers, said Mark Vitner, a Wells Fargo senior economist.
Homebuilder confidence rose in November, the third consecutive month of gains, despite supply-chain bottlenecks that slowed deliveries.
Consumer confidence fell in November to the lowest level in a decade as inflationary concerns weighed on the mindsets of Americans.
A third of real estate listings were under contract within seven days, rising from a month earlier during a time when home sales typically slow.
U.S. pending home sales dipped in September as supply-chain bottlenecks kept new houses from coming on the market.
New-home sales surges in September and the median U.S. price rose to a record as house-shoppers rushed to take advantage of low mortgage rates.