Last week's economic news included readings on sales of new and pre-owned homes; weekly readings on mortgage rates and first-time jobless claims were also released. Sales of New and Pre-Owned Homes Lower in April Sales of brand-new homes fell nearly seven percent in April according to Commerce Department reports. Analysts noted that March sales of new homes were revised upward, which contributed to the difference between March and April readings. 673,000 new homes were sold in April on a … [Read more...]

Last week's economic reports included readings from the National Association of Home Builders on housing market conditions, housing starts and building permits issued. Consumer sentiment was reported along with weekly readings on mortgage rates and new jobless claims. NAHB: Builder Confidence Rises in May, Housing Starts Increase in April The National Association of Home Builders Housing Market Index posted its highest reading in seven months in May as headwinds facing home construction … [Read more...]