New home sales increase in September to highest rate in 19 months

By Zach Halaschak

Published October 25, 2023 2:03pm ET

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New home sales increase in September to highest rate in 19 months — Home sale signs are posted along Topanga Canyon road in Los Angeles, on Thursday, Oct. 19, 2023. Sales of previously occupied U.S. homes in September fell for the fourth month in a row, grinding to their slowest pace in more than a decade as prospective homebuyers grapple with surging mortgage rates and a near historic-low level of properties on the market. | (Richard Vogel/AP)

Sales of new homes shot up in September, a sign that some buyers are wading into the housing market even as mortgage rates soar to multiyear highs.

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Federal Reserve Housing Interest Rates Real Estate