Morning Minute: New construction home sales surge in August

Photo credit: Bigstock

The sale of new homes rose 18 percent in August, marking the highest one-month jump in six years, MarketWatch reports. Sales climbed to a seasonally adjusted rate of 504,000 units, according to data from the U.S. Commerce Department.

The market’s buoyancy may slow, but the “underlying fundamentalists of the housing sector remain favorable, underpinned by the sustained recovery in the labor market and favorable buying conditions,” said Millian Mulraine, an economist with TD Securities, in the article.

In other headlines:

Rockford area housing market enjoys year of ‘continuing momentum’ – Rockford Register Star

New Crop of Multimillionaires From Soaring Farmland Values – Daily Real Estate News

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *