Americans Flock To New Construction Amid Record-Low Vacancy Rate

Not surprisingly considering current housing market dynamics, US new home sales topped estimates in data released on Wednesday. July's 714,000 annual pace tipped by the government figures was comfortably ahead of the 703,000 consensus. The range of estimates from nearly five-dozen people who get paid to draw numbers out of hats was 670,000 to 730,000. Figures for May and June were revised lower. July's headline print, as initially reported anyway, counts as the briskest pace since February of