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US new home sales plunge in October, lowest since March 2016
[WASHINGTON] US new home sales plunged in October, falling to the lowest level since March 2016 with declines in every region of the country, the government reported Wednesday.
While the hurricane-ravaged South saw a big decline, the weakness was most pronounced in the Northeast and Midwest which saw double-digit drops, according to the Commerce Department data.
Sales of new single-family homes fell just under nine percent compared to September, sinking to an annual rate of 544,000, seasonally adjusted.