August home sales hit highest level since January 2022

WASHINGTON, D.C. (ABC36 NEWS NOW) – Sales of newly built single-family homes surged nearly 21 percent last month, reaching the highest level since January 2022, according to government data.

The increase exceeded most economists’ predictions. Analysts say lower mortgage rates and aggressive efforts from homebuilders may have contributed to the boom, though some experts caution that August’s strong showing could be a one-month anomaly.