
New home sales were better than expected in the United States but the growth was not evenly distributed across regions
Olivier DOULIERY
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New US home sales came in well above forecasts in August with a 4.8 percent gain, as the housing market continues to recover from the coronavirus downturn, the Commerce Department said on Thursday.
August’s annualized rate of just over one million sales, seasonally adjusted, came after the upwardly revised annual rate of 965,000 sales reported in July and underscores how housing has managed to climb back from the hit taken during the Covid-19 downturn.
The growth was however not spread evenly, with month-on-month sales surging in the South 13.4 percent, and climbing 5.0 percent in the North, but declining slightly in the West and by a massive 21.4 percent in the Midwest.
“Home sales are well supported by solid demand and a favorable interest rate environment,”