New-home sales jump 7.9 percent from July to August

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Sales of new single-family houmes were up 7.9 percent from July to August, to a seasonally adjusted annual rate of 421,000, according to estimates from the U.S. Census Bureau and the Department of Housing and Urban Development. That’s a 12.6 percent jump from the rate of sales at the same time last year. The seasonally adjusted estimate of new houses for sale at the end of August was 175,000, which represented a supply of five months at the current sales rate. Source: