The numbers: U.S. new home sales rose 7.5% to a seasonally-adjusted annual rate of 632,000 in October from a revised 588,000 in the prior month, the Commerce Department reported Wednesday.
Analysts polled by The Wall Street Journal had forecast new-home sales to fall to a seasonally-adjusted annual rate of 570,000.
The data are often volatile. Sales in September were initially reported at 603,000.
Key details: The median sales price of new houses sold in October jumped to a record $493,000, up from $455,700 in the prior month.
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