Sales of new U.S. homes climbed in August following two of the worst months this year, indicating that the record-high mortgage rates still has its effect on the housing sector and its recovery.
Sales increased 7.9 percent to a 421,000 annualized pace following a 390,000 rate in the prior month that was less than previously estimated. Sales slumped 14.1 percent in July.
The back-to-back readings were the weakest this year, and fell short of an average 446,000 rate in the first six months of 2013.
Most Popular Stories
- Prosecutor to Investigate Walmart Police Shooting
- GM to Announce New Jobs in Tennessee
- Mark Sanchez Suddenly a Hot QB Commodity
- Smith & Wesson Misses Target
- Emirates Hit Libyan Targets With Airstrikes
- Michael Brown Funeral: Can Americans Change the Script of Violence?
- Marco Rubio Warns Obama on Deportations
- American Killed With ISIS Fighters in Syria
- Surf's Up! SoCal Prepares for Big Storm Surf
- Ford Hires 300 at Louisville Lincoln Plant