New Home Sales Rise 1.3%

New home sales rose 1.3% in October, the Commerce Department said Monday.

Sales rose to an annual rate of 307,000, below economists’ forecasts of a 315,000 rate, Bloomberg reported.

Sales rose in the West and fell in the South.

New home sales account for about 15% of residential real estate sales. Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.