That\'s the biggest spurt in housing sales since 1996
A 'For Sale' sign stands in front of a house outside Seattle. Sales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemic-related lockdowns. (AP)
Washington: Sales of new homes leapt 13.9 percent in July compared to the prior month, demolishing expectations as the US housing market continues to heat up, according to government data released on Tuesday.
The sales pace surged to an annual rate of 901,000 homes sold, more than 36 percent above July 2019, helped by very low borrowing rates.
But the results were uneven, with sales in the Midwest jumping an eye-popping 58.8 percent, while the Northeast posted a 23.1 percent drop.
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