US New Home Sales Fall in September; Median Price Drops

Sales of new US single-family homes fell in September, partially reversing the prior month's jump, as higher mortgage rates because of the Middle East conflict depressed demand.New home sales slipped 0.6% to a seasonally adjusted annualized rate of 676,000 units last month, the Commerce Department'…

WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Tuesday showed a modest pullback in new home sales in the U.S. in the month of September.The Commerce Department said new home sales fell by 0.6 percent to an annual rate of 676,000 in September after surging by 5.1 percent to a…