Chart of the Day:Last month's new home sales highest for August since 2012

Sales last month also outperformed previous crises and periods of cooling measures.

This chart from OrangeTee & Tie shows that new homes sales for the past month were the highest for the month of August since 2012.

Sales last month also outperformed previous crises and periods when cooling measures were implemented, with the 1,256 new units. For instance, 325 new homes were sold in August 2008 during the Global Financial Crisis (GFC). After fresh rounds of cooling measures were implemented, 765 units were sold in August 2013 and 617 units in August 2018.

Last month, sales of new properties surged to an 11-month high with a fourth consecutive monthly increase amid the pandemic and global economic slowdown.