New Home Sales Decline 3.2% in October

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ew home sales fell 3.2% in October, the Commerce Department said Wednesday.

The level dropped to a 1.004 million annual rate from a revised September rate of 1.037 million. Economists had forecast a decline to a 1.049 million pace, Bloomberg reported.

Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.

New home sales — which account for about 15% of residential real estate sales — fell in three of the four national regions, declining 39% in the Northeast, 5.6% in the Mid-west and 1.7% in the South. Sales rose 3.2% in the West.