U.S. new home sales unexpectedly fall in September By Reuters

WASHINGTON (Reuters) – Sales of new U.S. single-family homes unexpectedly fell in September, but the housing market remains supported by record low interest rates.

The Commerce Department said on Monday new home sales fell 3.5% to a seasonally adjusted annual rate of 959,000 units last month. August’s sales pace was revised down to 994,000 units from the previously reported 1.011 million units.

Economists polled by Reuters had forecast new home sales, which account for about 14% of housing market sales, rising 2.8% to a rate of 1.025 million units.