NEW HOME SALES SURGE

Source: Housing Wire

After hitting a new low in August, new home sales surged in September to their fastest pace in the past decade, according to the latest report released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

Sales of new single-family houses in September surged to a seasonally adjusted annual rate of 667,000 sales, the report showed. This is up a full 18.9 percent from 561,000 new home sales in August and up 17 percent from 570,000 sales in September 2016. The increase marked the fastest pace of home sales in 10 years.

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