August New-Home Sales Surge 18% to Six-Year High

Michael McKee reports a significant 18% rise in new home sales, marking a shift in the housing market. Despite previous disappointments, the demand for new homes has surged, leading to a decline in available houses. Builders have not been keeping up with demand, resulting in a reduced housing supply. This trend suggests a positive future outlook for the housing market, with the current supply at its lowest since before the economic crisis.

What trend was observed regarding the availability of houses?

What might be the implications of the reported housing market changes?

What is the current supply of new homes in months?

How does the current supply of new homes compare to the previous supply mentioned?

What was the percentage increase in new home sales reported for the last month?