New Home Sales In US: Pandemic? What Pandemic?

Video Credit: Wochit Entertainment
Published on September 24, 2020 - Duration: 00:34s

New Home Sales In US: Pandemic? What Pandemic?

Despite unprecedented unemployment amid a global pandemic, US new home sales positively boomed in August.

Markets Insider reports new US home sales shot up 4.8% to an annual rate of 1 million units in August.

That's the most rapid pace since 2006 and marks four consecutive months of increasing sales.

The housing market has been one of the few bright spots in the virus-rattled economy.

However, some fear that a dwindling supply of new homes people can buy will soon halt the sector's rally.

Advertisement

You are here

Related news from verified sources

It is not difficult to find a headline about home sales booming during the pandemic. More Space, Please: Home Sales Booming Despite Pandemic, Recession; New...
on September 2, 2020 • Mondaq

The agency forecasts supply will last 3.3 months at the current pace of sales. That's the shortest period in data going back to 1963.
on September 24, 2020 • Business Insider

A new report revealed that in April, when the pandemic took its toll on the real estate market, the number of newly licensed agents was practically zero. But as...
on September 18, 2020 • HousingWire

Related videos from verified sources

Staten Island Funeral Home Director A β€˜Godsend’ For Grieving Families During Pandemic 02:21
Video credit: CBS 2 New York - Published 23 hours ago 

Pandemic Population Boom In Connecticut 00:40
Video credit: CBS 2 New York - Published 23 hours ago 

Sen. Booker, Rep. Gottheimer Announce Proposal To Protect Nursing Homes From Second Wave Of COVID-19 00:45
Video credit: CBS 2 New York - Published 1 day ago 

You might like