Reuters
Sales of new single-family homes in the United States surged in August to their highest level in more than six years, a sign the housing recovery remains on course.
The recovery, however, will probably remain gradual against a backdrop of relatively high unemployment and sluggish wage growth, two factors that are seen as sidelining younger first-time buyers.
“This is welcome news in an otherwise mixed outlook,” said Diane Swonk, chief economist at Mesirow Financial. “We are still a long way from the housing market recovering from the bust.”
