Sales of new homes surge 4.8% in Au­gust

The Trentonian (Trenton, NJ) - - BUSINESS -

NEWYORK » De­mand for new homes con­tin­ues to surge de­spite an on­go­ing pan­demic and lin­ger­ing anx­i­ety about the U.S. econ­omy. The pace of sales have now reached lev­els last seen be­fore the Great Re­ces­sion in 2006. Sales 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%. The me­dian price of a new home sold was $312,800, ac­cord­ing to the Com­merce Depart­ment.

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