U.S. new-home sales in September recorded the largest single month increase since 1992, a sign the market remains resilient despite two major hurricanes and a continuing inventory shortage.
Purchases of newly built single family homes – a narrow slice of all U.S. home sales – increased 18.9% to a seasonally adjusted annual rate of 667,000 in September from the previous month, the Commerce Department said Wednesday. That put new home sales at the highest level since October 2007.
Reported by Laura Kusisto, Wall Street Journal, October 26,2017.