New home sales slump; business activity up
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Sales of new U.S. homes fell in November to the lowest rate since 1995, but business activity perked up this month, according to reports on Friday that showed pockets of strength in the economy despite a housing sector meltdown.
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Sales of new homes, after falling for three months, rose in August. But the gain was expected to be temporary as the battered housing industry struggles with a near-record level of unsold homes.
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Sales of new homes unexpectedly rose  2.8 percent to an 870,000 annual sales pace in July, reversing  two months of declines, and inventories eased, a Commerce  Department report showed on Friday.
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The latest data indicates that slowing home sales and the rising number of properties for sale is forcing more sellers to reduce prices in many locations across the country.
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New signs of weakness in the housing market prompted investors to look past a rebound in major retailersâ sales figures.
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Sales of new U.S. homes unexpectedly   rose in August after July sales came in much weaker than first   thought, while new orders for durable goods fell, according to   government reports on Wednesday that signaled continued   economic softness.
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May sales of new houses in the US disappoint after reaching record highs in April, as the housing slump continues.
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U.S. new home sales fell in May while consumer confidence hit a 10-month low in June on worries about jobs and the business climate, adding to signs of sluggish economic growth.
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Sales of new homes rose 16.2 percent in April, the sharpest climb in fourteen years, while prices fell a record 11 percent, according to a government report on Thursday that showed home builders taking extraordinary steps to move houses.
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Sales of previously owned homes inched up 0.4 percent  but that did not change the overall bleak picture for a housing industry that has been suffering through a painful slump.
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Factory orders for costly manufactured goods in July recorded the biggest gain in four months. Meanwhile, sales of new homes slid, according to a pair of reports that offered a mixed picture of economic activity.
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Retail sales rose a sluggish 0.1 percent in February amid unusually cold weather, and late mortgage payments and home foreclosures rose at the end of last year, according to reports that raised concerns about the economic outlook.
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New home sales rose 2.8 percent in July, only the second time this year that such sales increased from the previous month.
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Don't be shocked, but: New home sales were soft last year.
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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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U.S. new home sales fell more than expected in July to the their lowest pace since December, as higher mortgage rates cooled the housing market, a government report showed on Wednesday.
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Sales of new homes in the US in April hits a 14-year high, but the average price for a new build slumps.