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- Sales of new US homes accelerated by 4.8% to an annual rate of 1 million units in August, the Census Bureau reported Thursday.
- That pace is the highest since 2006 and marks four consecutive months of increasing sales.
- The agency’s estimate of new homes for sale fell to 282,000, reflecting 3.3 months of supply at the current pace of sales. That’s the shortest period in data going back to 1963.
- Though the housing market has been one of the few bright spots in the virus-rattled economy, some fear dwindling supply will soon halt the sector’s rally.
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