HERE COMES NEW HOME SALES...
Aug 25, 2014, 19:11 IST
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Economists estimate the pace of sales jumped 5.7% to an annualized rate of 429,000 units in July.
"The NAHB homebuilder sentiment index improved as buyer traffic edged up while current conditions increased," noted Bank of America Merrill Lynch economists. "New home sales have essentially been moving sideways since the middle of next year with strength at the end of 2013 offset by weakness in the first half of this year. While sales have been soft, single family starts have recently increased, translating to a pickup in months supply."