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New home sales surge 25% in October

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Posted at 12:03 PM, Dec 04, 2013
and last updated 2013-12-04 12:03:29-05

By Aaron Smith

NEW YORK (CNNMoney) — New home sales are surging, according to a report from the U.S. government on Wednesday.

Sales of new single family homes jumped to a seasonally adjusted annual rate of 444,000 in October, up 25.4% from the previous month’s revised rate, according to the U.S. Department of Housing and Urban Development.

That’s up 21.6% from a year ago.

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