U.S. new home sales surge to highest since December 2006
August 25, 2020 | Prashant Gopal | Bloomberg News
New-home sales in the U.S. jumped to the highest level in almost 14 years in July as low mortgage rates helped fuel a suburban construction boom.
Purchases of new single-family houses climbed 13.9 per cent from June to a 901,000 annualized pace from an upwardly revised 791,000, government data showed Tuesday. The median forecast in a Bloomberg survey of economists called for a 790,000 rate of sales. The median selling price rose 7.2 per cent from a year earlier to US$330,600.
