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
- Boehner Lashes Out Against Ted Cruz, Far Right
- Bitcoin or Bad Coin? Warnings Mount Against Virtual Currency
- TFA Recruiting DACA Recipients
- Cheap Gas Drives Down U.S. Wholesale Prices Again
- Expanding Medicaid Creates Jobs: Study
- Robert Levinson Was on CIA Mission
- Producer Price Index Dropped in November
- 'Dreamers' Hope for Permanent Immigration Status
- Beyonce Releases New Album With No Marketing
- Hawaii Official Who Release Obama Certificate Only Victim of Plane Crash