US New Home Sales Hit 3.5-Year High Amid Market Surge
TL;DR Summary
In August, new-home sales in the U.S. surged by 20.5% to a three-year high, driven by builder discounts and lower mortgage rates, despite some economist skepticism about the sustainability of this spike. The median price of new homes increased slightly, and the sales increase was most notable in the Northeast, indicating a potential rebound in housing activity amid improved affordability.
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