por admin » Jue Sep 24, 2020 9:52 am
U.S. new home sales rise to near 14-year high
PUBLISHED THU, SEP 24 202010:12 AM EDTUPDATED 34 MIN AGO
Reuters
The Commerce Department said on Thursday new home sales rose 4.8% to a seasonally adjusted annual rate of 1.011 million units last month, the highest level since September 2006.
July’s sales pace was revised upward to 965,000 units from the previously reported 901,000 units.
An aerial view of a construction worker roofing an apartment home on May 27, 2020 in Uniondale, New York.
An aerial view of a construction worker roofing an apartment home on May 27, 2020 in Uniondale, New York.
Al Bello | Getty Images
Sales of new U.S. single-family homes increased to their highest level in nearly 14 years in August, suggesting the housing market continued to gain momentum even as the economy’s recovery from the COVID-19 recession appears to be slowing.
The Commerce Department said on Thursday new home sales rose 4.8% to a seasonally adjusted annual rate of 1.011 million units last month, the highest level since September 2006. New home sales are counted at the signing of a contract, making them a leading housing market indicator.
July’s sales pace was revised upward to 965,000 units from the previously reported 901,000 units.
Economists polled by Reuters had forecast new home sales, which account for more than 10% of housing market sales, slipping 1% to a rate of 895,000-units.
This is breaking news. Please check back for updates.