FILE - In this April 1, 2020 photo, a "For Sale" sign stands in front of a home that is in the process of being sold in Monroe, Wash., outside of Seattle. Sales of new homes rose by a very strong 4.8% in August to a seasonally-adjusted annual rate of 1.01 million units. The gains reported Thursday, Sept. 24 by the The Commerce Department follow steep declines in March and April when COVID-19 infections spread in the U.S. (AP Photo/Elaine Thompson, File)
NEW YORK (AP) — Sales of new homes rose by a very strong 4.8% in August to a seasonally-adjusted annual rate of 1.01 million units. The gains reported Thursday by the The Commerce Department follow steep declines in March and April when COVID-19 infections spread in the U.S. That pace picked back up in the summer, driving home prices in many places to record highs. The median price of a new home sold was $312,800, according to the Commerce Department.
