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Purchases of New U.S. Homes Increase More Than Forecast

Purchases of new U.S. houses rose more than forecast in September as discounted prices lured buyers in some parts of the country.

Sales climbed 5.7 percent to a 313,000 annual pace, figures from the Commerce Department showed today in Washington. The median estimate of economists surveyed by Bloomberg News called for a gain to 300,000. The median price slumped 10 percent from September 2010, the biggest drop in more than two years. Another report showed demand for durable goods excluding transportation equipment climbed last month by the most since March.