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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Don't be shocked, but: New home sales were soft last year.
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WASHINGTON -- 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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New-home sales in November dropped 9 percent from the previous month, and were down 34 percent from a year earlier, more dismal figures for an industry facing bloated inventory, declining prices and mortgage woes.
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U.S. new home sales in May fell more than expected while consumer confidence in June fell to a 10-month low amid anxiousness about jobs and the business climate, adding to signs of sluggish economic growth this year.
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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 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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WASHINGTON &#151; Sales of new homes rose by 9.4 percent in August, the Commerce Department said yesterday, as mortgage interest rates remained at low enough levels to continue enticing buyers worried about future rate increases.
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Sales of new homes rose slightly in September but remained near their lowest levels ever. Orders for durable goods declined, but a crucial measure of business spending rose.
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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 by 9.4 percent in August, the Commerce Department said Monday, as mortgage interest rates remained at low-enough levels to continue enticing buyers worried about future rate hikes.
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Sales of new U.S. homes again defied  predictions of a slowdown in May and rose 4.6 percent, but  median sales prices fell and the U.S. Northeast experienced its  slowest sales tempo in nearly two years, according to a  government report on Monday.
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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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WASHINGTON -- Sales of new homes fell in May for the fourth time in the past five months, providing further evidence of a continued slump in housing.
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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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U.S. new home sales jumped a surprising 9.4 percent in August, the fastest acceleration of sales in almost four years, as a fresh dip in mortgage interest rates attracted buyers, a government report showed on Monday.
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WASHINGTON - Factory orders for costly manufactured goods in July recorded the biggest gain in four months. Meanwhile, new-home sales slid, according to a pair of reports that offered a mixed picture of economic activity.