New-Home Sales Plunge 10.5% in August; Consumer Confidence Hits Lowest Since January

WKSP Worksport Ltd

$0.28 -4.50%

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1. 1New-home sales in August dropped 10.5% from the prior month, and the consumer confidence index came in at 89.4, the lowest since January.
2. 2The sales pace (SAAR) retreated to 607,000 units, down 6.3% year-on-year, following a revised 7.6% rebound in July.
3. 3The plunge was interpreted as reflecting weak sentiment, with high financing costs and prices weighing on the housing market.

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