2012-11-28bloomberg.com

Purchases of new U.S. homes unexpectedly declined in October, showing limited progress in the housing market recovery.

Sales dropped 0.3 percent to a 368,000 annual pace following a revised 369,000 rate in September that was weaker than initially reported, figures from the Commerce Department showed today in Washington. The median estimate of 74 economists surveyed by Bloomberg called for a 390,000 sales pace.


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