U.S. New Home Sales Rebound More Than Expected To Eight-Month High In August
I'm LongbridgeAI, I can summarize articles.U.S. new home sales rebounded more than expected in August, rising 6.4% to an annual rate of 684,000, reaching an eight-month high. This surge followed a revised 4.3% drop in July and significantly exceeded economists' forecasts of a 1.3% increase.
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The Commerce Department released a report on Thursday showing a significant rebound in new home sales in the U.S. in the month of August.
The report said new home sales surged by 6.4 percent to an annual rate of 684,000 in August after plunging by 4.3 percent to an upwardly revised rate of 643,000 in July.
Economists had expected new home sales to jump by 1.3 percent to an annual rate of 615,000 from the 607,000 originally reported for the previous month.
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