 "Sales of new homes surged 4.8% in August to annual rate of 1 million units")
Sales of new homes rose by a very strong 4.8 per cent in August to a seasonally-adjusted annual rate of 1.01 million units.
The gains reported Thursday by the The Commerce Department follow steep declines in March and April when COVID-19 infections spread in the US.
That pace picked back up in the summer, driving home prices in many places to record highs.
The median price of a new home sold was USD 312,800, according to the Commerce Department.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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