July New Home Sales Up 2.8 Percent
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New home sales unexpectedly rose to an 870,000 annual sales pace in July, reversing two months of declines, and inventories eased, the Commerce Department reported.
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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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Manufacturing output has climbed by 0.2 percent in July compared with the previous month.
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U.S. consumer confidence rose  unexpectedly in July and existing homes sales fell less than  forecast in June, reports showed on Tuesday, boosting market  expectations for an August rate hike by the Federal Reserve.
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New home sales turned up and factory orders soared in July, suggesting the economy was on stable footing before a credit crunch took a turn for the worse.
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Sales of new US homes unexpectedly recovered in August, rising 4.1% from July, official figures show.
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Orders for US durable goods posted a larger-than-expected rise in July, but new home sales showed signs of buckling under the weight of higher interest rates, two government reports showed on Wednesday.
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The pace of existing home sales in July fell slightly to a 5.75 million unit annual rate and the supply of unsold single-family homes hit its highest since 1991, the National Association of Realtors said in a report on Monday.
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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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New-home sales showed signs of buckling under the weight of higher interest rates, and orders for durable goods rose more than expected in July, two government reports showed Wednesday.
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Personal income and consumer spending jumped more than expected in July while one measure of inflation remained tame -- positive economic news amid continued problems in the real estate industry and rising home loan default rates.
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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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Stocks climbed on Friday as an unexpected rise in July new home sales calmed worries about the housing market slump, helping investors put aside fears about a recession.
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Business growth slowed to a 2.2 percent pace in the late summer, a much better performance than anticipated and an encouraging sign that the housing slump hasn't significantly dragged down the economy.
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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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Demand for larger properties pushed house prices up by 2.1% in July, official government figures show.
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The number of foreclosure filings reported in the U.S. last month more than doubled versus August 2006 and jumped 36 percent from July, a trend that signals many homeowners are increasingly unable to make timely payments on their mortgages or sell their homes amid a national housing slump.