Home Sales Weaken But Consumers Buoyant
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Sales of new U.S. homes tumbled at  the sharpest rate in more than a decade in November, the  government said on Thursday, but a separate report showed  consumers' mood still buoyant near the end of 2004.
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WASHINGTON - Americaâs consumers came off a buying binge and were less jolly spenders in November. Newhome sales, meanwhile, cooled from a record high, while demand for big-ticket manufactured goods rebounded.
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Pending sales of existing U.S. homes  slipped in November but were much stronger than previously  thought in October, according to a report on Tuesday that  offered mixed news on the battered U.S. housing sector.
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Although existing homes are selling  at their slowest pace in four years, most Americans are  confident their homes are worth more now than they were a year  ago, according to a survey released on Thursday.
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U.S. existing home sales posted their largest gain in two years last month, a sign the housing market may be climbing out of a slump, but orders for big-ticket factory goods fell as businesses showed wariness about the economy's health.
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Business & money: Numbers of buyers unable to purchase first home slump to the lowest level since 1980
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New home sales in May fell more than expected while consumer confidence in June hit a 10-month low amid worries about jobs and the business climate, adding to signs of sluggish economic growth this year.
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There are now "clearer signs" that demand in the housing market has slowed, according to the Nationwide.
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Pending sales of existing U.S. homes slipped in November but were much stronger than previously thought in October, according to a report on Tuesday that offered mixed news on the battered U.S. housing sector.
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Homes priced out of buyers' reach and unsold inventory could derail analysts' predictions that the market is near its bottom.
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WASHINGTON -- Retail sales posted a modest gain in August, helped by the biggest jump in auto sales in more than a year. But there are concerns that spending could falter as the steep slump in housing and financial market turbulence weigh on consumer confidence.
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U.S. home sales will be a good deal   weaker this year than earlier thought as potential buyers   remain on the sidelines waiting for better deals, a national   real estate group said on Thursday.
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Wall Street lost momentum from last weekâs gains after news of declining existing home sales stirred concerns about the strength of the economy.
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Sales of new U.S. homes unexpectedly   rose in August but sales in July were weaker than first   thought, while new orders for durable goods fell, according to   government reports on Wednesday giving mixed indications about   the economy's direction.
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Investors' expectations of an interest rate cut -- and home buyers' hopes for cheaper mortgages -- seem to be disappearing.
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The US housing market remains sluggish, with sales of existing homes at their lowest level in four years.
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Pending sales of existing U.S. homes hit the lowest level in more than five years in May and factory orders dipped modestly, according to data on Tuesday that suggested the economy was struggling.