Au­gust new home sales surge 4.8%

The Times-Tribune - - BUSINESS -

De­mand for new homes con­tin­ues to surge de­spite an on­go­ing pan­demic and lin­ger­ing anx­i­ety about the U.S. econ­omy. The pace of sales has now reached lev­els last seen in 2006.

Sales of new homes in Au­gust rose by a very strong 4.8% to a sea­son­ally ad­justed an­nual rate of 1.01 mil­lion units, the U.S. Depart­ment of Com­merce re­ported Thurs­day. The jump fol­lowed a new home sales spike in July of 13.9%.

New home sales are up 43.2% from this point last year.

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