New home sales jumped last month despite consistently high mortgage rates that experts say have hampered affordability and pushed potential buyers out of the market. Sales of new single-family homes rose by 7.5 percent in October at a seasonally adjusted annual rate of 632,000, according to Census Bureau data released on Wednesday. But the new sales fell behind the October 2021 estimate by 5.8 percent. The median sales price of new single-family homes sold in October was $493,000, while the average sales price was $544,000. New sales numbers follow separate data released last week that shows existing home sales declining for the ninth straight month. Existing home sal
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