U.S. new home sales hit eight-month high

Sales of existing U.S. homes in September rose by seven percent to a seasonally adjusted annual rate of 6.29 million units, the National Association of Realtors reports. That was the biggest increase in a year, surpassing analyst expectations of 6.09 million units. All four regions of the country saw increases. Home resales declined by 2.3 percent on a year-over-year basis.