New home sales rose 6.4% MoM in August to an annualized pace of 684,000—above expectations and the highest pace of the year. July’s sales were also revised higher.

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Existing home sales dipped 2% from July to August, reaching a seasonally adjusted annual rate of 3.98 million homes. Sales were also 1.2% lower than a year ago. Still, year-to-date sales are up 1.6%.

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