(The Center Square) – New home sales in the U.S. dropped last month as mortgage rates have soared.
According to the U.S. Census Bureau, new home sales fell 5.6% in October, more than expected.
“The median sales price of new houses sold in October 2023 was $409,300,” the Bureau said in its announcement. “The average sales price was $487,000.”
According to the Federal Reserve Bank of St. Louis, the ave…
