August new home sales surge 4.8%
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.