Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units.
The Commerce Department said Monday, Oct. 26, 2020, that despite the modest decrease, sales of new homes are up 32.1% from a year earlier, as the housing market remains strong despite the pandemic.
– Demand for new homes in the U.S. surged 4.3% in January with the housing market still one of the strongest segments of the economy.
Last month's increase pushed sales of new homes to an adjusted annual rate of 923,000, the Commerce Department reported Wednesday.
The housing market has remained remarkably resilient in the face of the economic fallout of the coronavirus pandemic.