New house sales turned higher for the first time in three months, with sales surging in the Northeast. But experts worry about the effects of the hurricane, rising rates and escalating home prices.

Newly constructed home sales were a preliminary 50,000 single-family houses during August, the Census Bureau and Department of Housing and Urban Development jointly reported Wednesday.

Last month’s sales of newly constructed residential properties brought the total for the first eight months of this year to 448,000 units, according to historical data from the two agencies.

Source: Mortgage Daily