US New-Home Sales Rise 20.5 Percent in August as Mortgage Rates Ease

Mortgage rates remain stubbornly high, but that didn’t stop 800,000 Americans from buying new homes in August.

New residential sales spiked by a seasonally adjusted 20.5 percent from July and were up 15.4 percent year over year, the Census Bureau and Department of Housing and Urban Development reported on Sept. 24.