There are indications that there is a great deal of unfulfilled housing demand. According to government data released Tuesday, new home sales in the US unexpectedly increased in August. The rate of new home sales was at its highest since March, possibly due to purchasers racing to beat additional hikes in borrowing prices and take advantage of price reductions by some builders. All regions saw an increase in new house sales, with the South seeing the most significant increase of 29.4% this year.

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