US New Home Sales Skyrocket Over 20% in August, Defying Economic Forecasts
US New Home Sales Skyrocket Over 20% in August, Defying Economic Forecasts
New data reveals a significant and unexpected surge in US new-home sales for August, marking the fastest pace since early 2022. Sales of new single-family homes jumped an impressive 20.5% to an annualized rate of 800,000, according to a government report released yesterday.
This broad advance has taken economists by surprise, as the figures surpassed all estimates in a recent Bloomberg survey. Analysts attribute this robust growth primarily to aggressive price cuts and sales incentives offered by builders, successfully drawing buyers back into the market.
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