US August New Home Sales Surge to 684,000 Annual Rate, Far Exceeding Forecasts

Sales of new single-family homes in the United States jumped 6.4% in August from the prior month to a seasonally adjusted annual rate of 684,000 units, the Census Bureau reported on September 24. The result came in well above the consensus estimate of roughly 615,000-616,000 units and topped the prior month's revised figure of 643,000, which itself was revised upward from an initial reading of 607,000.

The beat was one of the widest against Wall Street expectations in recent months, with the headline number running nearly 70,000 units above the consensus. The upward revision to July's data added further strength to the picture, suggesting demand for newly built homes has been more resilient than previously understood.