Storm cut into US home sales in October
US sales of new homes fell slightly in October, and September sales were slower than initially thought. The October sales pace was dragged lower by steep declines on the East Coast, partly related to Hurricane Sandy. The Commerce Department said Wednesday that new-home sales fell 0.3 percent in October to a seasonally adjusted annual rate of 368,000. That’s down marginally from the 369,000 pace in September, which was revised lower from an initial report of 389,000.