According to new data from the U.S. Department of Housing and Urban Development and the Census Bureau, new home sales spiked in the United States during the month of September.
Sales reportedly jumped 12.3% from 676,000 seasonally adjusted new home sales in August to 759,000 in September.
This puts new home sales up 33.9% year-over-year.
September’s new home sale spike comes as mortgage rates remain above 7% nationwide, which have priced out many potential homebuyers from purchasing a house.
