The number of new homes sold in the United States hit the highest level since May 2023 last month amid an easing of mortgage rates, according to the Census Bureau.
New home sales in September reached a seasonally adjusted rate of 738,000 units annually, up by 4.1 percent from August and 6.3 percent from a year back, according to an Oct. 24 statement from the agency. Property sales rose in the Northeast and South while declining in the Midwest on a monthly basis. In the West, growth was flat. The jump in new home sales came as mortgage rates dropped last month.
