WASHINGTON, D.C. – U.S. new home sales jumped last month to their highest level since October 2007.
The Commerce Department says new home sales leapt 18.9 percent in September to a seasonally adjusted annual rate of 667,000. Sales rose in all regions, including the South, where they increased nearly 26 percent.
This signals that Americans, unable to find existing homes, are turning to new construction.
The government couldn't estimate what impact, if any, last month's hurricanes had on the data.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.