US sales of new houses rose in September to the fastest pace since early 2022, suggesting there’s still some appetite for homes despite soaring mortgage rates.

Purchases of new single-family homes increased 12.3% to a 759,000 annualized pace last month, government data showed Wednesday. The figure topped all estimates in a Bloomberg survey of economists.

Reprinted courtesy of Augusta Saraiva, Bloomberg and Reade Pickert, Bloomberg