American new home sales unexpectedly surged last month, reaching their fastest pace in three years due to significant price reductions.
Builders implemented substantial discounts to attract hesitant buyers, leading to a 20.5% increase in August sales.
This boost in activity followed easing borrowing costs and is seen as a positive sign for the stagnating housing market.
However, experts caution that this jump may overstate the actual market improvement, given the volatility of monthly sales figures.
