U.S. new-home gross sales simply ‘defied gravity,’ surging to highest degree since February 2022

The numbers: Sales of newly constructed properties within the U.S. surged in September as aspiring householders, unable to seek out stock in resale properties, turned to homebuilders.

U.S. new-home gross sales rose 12.3% to an annual price of 759,000 in September, from a revised 676,000 within the prior month, the Commerce Department reported Wednesday. 

The quantity is seasonally…