US New Home Sales Hit Eight-Month High
Sales of new single-family US homes rose 6.4 percent in August to an annualized rate of 684,000 units. Buyers utilized price cuts and incentives, though rising mortgage rates continue to challenge the housing market.
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Sales of new United States single-family homes surged 6.4% to an annualized rate of 684,000 units in August, reaching an eight-month high. The increase topped the 615,000 unit rate forecast by economists polled by Reuters. Elevated mortgage rates stemming from the conflict involving Israel and Iran continue to pose headwinds for the housing market.
