Home sales rise across nation as interest rates drop

Sales of new and previously owned homes in the U.S. rose in September, according to reports released Friday, as decades-low interest rates fueled home buying.

Sales of new single-family houses climbed 0.4% to a seasonally adjusted annual rate of 1.021 million units last month from an upwardly revised 1.017-million-unit pace in August, the Commerce Department said.

Sales of previously owned homes climbed 1.9% to a seasonally adjusted annual rate of 5.40 million units from a 5.30 million pace in August, the National Assn. of Realtors said.