Sales of newly built, single-family homes rose 7.9 percent to a seasonally adjusted annual rate of 421,000 units in August, according to newly released figures from HUD and U.S. Census Bureau. The gain partly offsets a dip in sales activity that occurred in July as consumers reacted to higher interest rates. "Consumers are adjusting to the reality of today's higher rates following a period of record-setting lows, and today's sales report provides evidence of that," said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C.Click to continue
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