US Real Estate

US New-Home Sales Rise 20.5 Percent in August as Mortgage Rates Ease

Rates for a 30-year fixed mortgage dipped to 6.34 percent last week.
US New-Home Sales Rise 20.5 Percent in August as Mortgage Rates Ease
New contemporary attached residential homes for sale by Beazer Homes USA Inc. in Vista, Calif. Mike Blake/Reuters
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Mortgage rates remain stubbornly high, but that didn’t stop 800,000 Americans from buying new homes in August.

New residential sales spiked by a seasonally adjusted 20.5 percent from July and were up 15.4 percent year over year, the Census Bureau and Department of Housing and Urban Development reported on Sept. 24.
Rob Sabo
Rob Sabo
Author
Rob Sabo has worked as a business journalist for nearly two decades and covers a broad range of business topics for The Epoch Times.