New home sales unexpectedly tick up in August

By Zach Halaschak

Published September 27, 2022 2:05pm ET

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New home sales unexpectedly tick up in August — 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 unexpectedly grew despite broader turmoil in housing markets, a surprising development after months of declines.

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Federal Reserve Housing mortgages Real Estate Recession