New home sales slip in U.S.

WASHINGTON — New U.S. residential sales declined unexpectedly in October, the U.S. Census Bureau reported, with sales of new single-family dwellings falling 1.9% to a seasonally adjusted annual rate of 563,000 units. The September rate, originally reported as 593,000, was revised to 574,000 units. A Reuters poll of economists found a consensus expectation that sales would hold steady in October. The decline is expected to be a short-term setback.