This April 16, 2020 photo shows a real estate company sign that marks a home for sale in Harmony, Pa. U.S. new home sales plunged 15.4% in March as the lockdowns that began in the middle of the month began to rattle the housing market.
The Commerce Department reported Thursday, April 23, that sales of new single-family homes dropped to a seasonally ajdjusted annual rate of 627,000 last month after sales had fallen 4.6% in February. (AP Photo/Keith Srakocic)

Sales of new homes surged 4.8% in August

September 24, 2020 - 10:19 am

NEW YORK (AP) — Sales of new homes rose by a very strong 4.8% in August to a seasonally-adjusted annual rate of 1.01 million units.

The gains reported Thursday by the The Commerce Department follow steep declines in March and April when COVID-19 infections spread in the U.S.

That pace picked back up in the summer, driving home prices in many places to record highs.

The median price of a new home sold was $312,800, according to the Commerce Department.

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