Housing market bellwether
Sales of newly built U.S. homes have been climbing this year after pausing in March and April due to coronavirus lockdowns.
Ultra-low mortgage rates and a dearth of resale properties for sale have helped drive demand. Sales pulled back in September to a seasonally adjusted annual rate of 959,000 units. Economists expect sales rebounded last month to a seasonally adjusted annual rate of 972,000. The Commerce Department delivers its October tally of new U.S. home sales today.