New home sales rose 9.6% to a rate of 433K in July, compared to a consensus forecast of 390K, and a previous reading of 384K units. The rate of sales increased in July to its highest level since September 2008. The inventory of new homes fell to 7.5 months from 8.5 a month prior. The […]
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First Time Home Buyer Program
An upward surprise in this morning’s pending home sales data helped to restore some sentiment to the market after a disappointing personal income release. Pending home sales were up 3.6% in June, compared to a consensus forecast of 0.7%. This was the 5th consecutive month of gains. Pending home sales were up in all four […]