US new-home sales soared 18pc in August to their fastest pace in more than six years, an encouraging signal amid mixed housing market reports, official data showed Wednesday.
Sales of new single-family houses surged to an annual rate of 504,000 from a revised July rate of 427,000, the Commerce Department reported. The July pace was previously pegged at 412,000 homes.
The August sales pace was the strongest since May 2008.
Analysts had estimated a more modest sales increase to 435,000 new homes in August in the often volatile monthly report.
Year-over-year, new-home sales were up 33pc.
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