July sales of new homes surge 13.9%, far more than thought
By MATT OTT, AP Business Writer Sales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemic-related lockdowns. The Commerce Department reported Tuesday that July's gain propelled sales of new homes to a seasonally adjusted annual rate of 901,000, the most since 2006. That's a far bigger number than analysts had