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U.S. New-Home Sales Top Forecast With Best Pace Since March
Sales of new U.S. homes increased in September to the highest level in six months, underscoring solid underlying demand. Purchases of new single-family homes increased 14% to an 800,000 annualized pace after a downwardly revised 702,000 rate in August, government data showed Tuesday. The median estimate in a Bloomberg survey of economists called for a 756,000 rate. The figures suggest demand is stabilizing after high prices and a lack of inventory pushed the pace of contract signings below pre-pandemic levels in recent months. However, headwinds remain as ongoing supply chain and labor challenges slow construction ... (full story)