Sales of new homes surgeed 4.8% in August
Sales of new homes rose by a very strong 4.8% in August to a seasonally-adjusted annual rate of 1.01 million units
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Sales of new homes rose by a very strong 4.8% 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 U.S.
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 $312,800, according to the Commerce Department.