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flag U.S. new home sales dipped slightly in October, with prices falling and inventory stable.

flag U.S. new home sales in October edged down 0.1% to an annual rate of 737,000, slightly below expectations, following a strong September gain. flag Sales dropped sharply in the West and Northeast but rose in the South. flag The median home price fell 3.3% from September and 8.0% from a year earlier. flag Inventory remained steady at 488,000 homes, offering a 7.9-month supply, down from 9.3 months a year prior.

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