October New Home Sales Jumped 10.7%

Washington, DC, November 25, 2015—New home sales rose 10.7% in October to a seasonally adjusted rate of 495,000, according to the Commerce Department, following a 12.9% drop in September.

October’s figure represents a year over year increase of 4.9%.

According to Reuters, new home sales account for about 8% of the total housing market.