Sales of new single-family homes surged 20.5% month-over-month in August, hitting their highest level since January 2022. Must Read The jump was also the largest monthly gain in more than two years, according to census data, with sales up 15.4% compared with August 2024. What makes this jump surprising is that buyers signed those contracts while mortgage rates hovered around 6.6% — higher than they are today. Rates dipped in September, when the Federal Reserve cut its lending rate. The median price of ...