The Journal Gazette
Tuesday, November 23, 2021 1:00 am


Existing home sales grow 0.8%

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Sales of previously occupied U.S. homes ticked higher in October, marking their strongest annual pace since January even as competition for relatively few properties on the market pushed prices higher.

Existing homes sales rose 0.8% last month from September, to a seasonally adjusted annual rate of 6.34 million units, the National Association of Realtors said Monday. That was stronger than the 6.18 million units that economists had been expecting, according to FactSet.

Target to stay closed Thanksgiving

Target will no longer open its stores Thanksgiving Day, making permanent a shift to the unofficial start of the holiday season that was suspended during the pandemic.

Americans appeared to embrace the change, which has also resonated with workers, Target said.

Target is the first major retailer to make such a permanent move, and its decision could push other retailers to follow in its path, said Ken Perkins, president of Retail Metrics, a retail research firm. 

Ford, Rivian end EV partnership

Ford Motor Co. and Rivian Automotive Inc. have scrapped plans to develop an electric vehicle together as both automakers work to expand their production of EVs.

Ford offers the all-electric, Mustang Mach-E SUV and is assembling the electric F-150 Lightning pickup truck. Rivian in September began delivering its R1T pickup truck from its plant in Normal, Illinois, where it also will assemble SUVs and delivery vans.

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