New Home Sales Rise

The first look at home sales in the key month of July showed that sales came in better than expected. According to the Census Bureau report, Americans bought newly constructed homes at a seasonally adjusted annual pace of 870,000 units. That's 2.8 percent above the upwardly revised June rate and better than the consensus estimate of 830,000 that economists were expecting. But the better sales numbers don't necessarily mean that the languishing housing market has bottomed out....Full Story
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