According to Reuters, U.S. new home sales have rebounded, but trend weakening.
In August, after two straight monthly declines,US new home sales have rebounded, but the underlying trend still points to a weakening housing market against the backdrop of rising mortgage rates and higher home prices.
Economists expect small gains in new homes sales in the coming months, but they also believe the overall housing market has likely peaked.
The housing market is lagging a robust economy, with data last week showing sales of previously owned homes flat in August and building permits hitting a more than one-year low.