New home sales surge over 20% to 3-year high as lower mortgage rates spurred demand
Snippet of Article: "...Sales of new US single-family homes surged to the highest level in more than 3-1/2 years in August, but that likely exaggerates the housing market’s health, and a weakening labor market could limit the boost from falling mortgage rates.
The bigger-than-expected increase in sales last month reported by the Commerce Department on Wednesday was shrugged off by economists...jumped 24.7% in the densely populated South ..."
Source: nypost.com