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News > Economy
New home sales jump
August 24, 2001: 10:07 a.m. ET

Sales of new homes in the U.S. show unexpected gain in July
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NEW YORK (CNNfn) - Sales of new homes in the United States jumped in July, the government reported Friday, a sign of continuing strength in the housing market, which has been one of the few bright spots in a sluggish U.S. economy.

The Commerce Department reported new home sales rose 4.9 percent in July to a seasonally adjusted 950,000 annual pace, compared with a revised 2.8 percent gain to 906,000 in June. Analysts surveyed by Briefing.com expected home sales to fall to a rate of 918,000. graphic




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