Mortgage rates are climbing again as investors brace for potentially higher inflation and budget deficits under President-elect Donald Trump’s administration. (Credit: Adobe Stock)

(Bloomberg) — Sales of new homes in the U.S. slumped in October 2024 to the lowest in almost two years, as two hurricanes hit the South and affordability challenges continued to weigh on buyers.

New single-family home sales decreased 17% last month to a 610,000 annualized rate, according to government data issued Tuesday. The median estimate of economists surveyed by Bloomberg called for 725,000.


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