U.S. releases housing and unemployment data for economic assessment

The U.S. government released new data on Thursday about sales of newly-built homes. The report covers brand-new homes and homes that are still under construction. Economists expected sales to have risen slightly in August. This is different from existing home sales, which fell in August. The housing market has been struggling because mortgage rates and home prices are both high. These high costs have made it harder for buyers to purchase homes. The data helps investors and policymakers understand supply and demand in the housing market. It also gives useful information to home builders and companies that sell construction materials. Wall Street watches these reports closely because the housing sector is an important part of the wider economy.