CHARLOTTE, N.C. — 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, as the housing market’s summer buying season came to a close.
The Commerce Department said Monday 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.
EXISTING-HOME SALES SOAR 9.4% IN SEPTEMBER, MARKING FOURTH CONSECUTIVE MONTH OF GROWTH
The housing market, like most of the economy, came to a near standstill in March and in April, causing the typical spring summer buying season to be delayed until the summer.
LUXURY REAL ESTATE SALES CONTINUE TO SURGE DURING PANDEMIC
Once economies reopened, pent up