New Home Sales Fall 0.3%

New home sales fell 0.3% in October, the Commerce Department said Wednesday.

Sales fell to a 368,000 annual rate, from a revised 369,000, which was higher than originally reported, Commerce said.

The October rate was above economists’ median forecast of 390,000, Bloomberg reported.

Purchases rose 62.2% in the Midwest to the highest level in three years, and increased 8.8% in the West. Sales dropped 32.3% in the Northeast.

Rising home sales can mean more business for flatbed trucking companies, which haul building materials, and dry van freight carriers, which haul household appliances and furniture.