Steel Markets
August 25, 2020
New Home Sales Soar in July
Written by Sandy Williams
Sales of new single-family homes soared 13.9 percent in July to a seasonally adjusted annual rate of 901,000 and the highest level in almost 14 years, according to estimates by the U.S. Census Bureau and the Department of Housing and Urban Development. Compared to a year ago, sales surged 36.3 percent.
The phenomenal increase stunned economists who were expecting a moderate increase of 1.2 percent to a rate of 785,000 in July.
