Sales of newly constructed homes rose at their fastest pace in more than three years last month. Justin Sullivan / Getty Images Close Key Takeaways New homes are now more popular than existing homes, due largely to builder incentives and plentiful inventory, new data released this week showed. Sales of newly-constructed homes in August came in at an annual rate of 800,000, a 20% increase from July's rate of 664,000. It was the fastest pace of sales since early 2022, economists at Wells Fargo noted in a repo ...

A sold sign is posted in front of a home for sale on Aug. 27, 2025 in San Francisco, California.Sales of previously owned homes were essentially flat in August, coming in 4 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. That is a 0.2% drop from July and an increase of 1.8% from August of last year. Sales were strongest in the Midwest and weakest in the Northeast.This count is based on closings, so people signing their deals in June and July, when ...