SALES DIP: U.S. sales of new homes fell slightly in October, down 0.3 percent to a seasonally adjusted annual rate of 368,000. The government also said Tuesday that September sales were slower than initially reported.

SANDY JOLT: The October sales pace was slowed by steep declines in the Northeast, partly related to Superstorm Sandy.

HOUSING OUTLOOK: Even with the slight dip in October, sales are up 17 percent from a year ago. Economists say they believe that new homes sales will keep showing modest improvements. But activity is still just about half of what is viewed as a healthy level.