WASHINGTON (AP) - The Commerce Department says sales of new
homes rose in July.
The 2.4 percent increase still left sales below what analysts
expected. Compared to a year earlier, July new home sales are down
35 percent.
Economist Dave Seiders (SY'-durz) with the National Association
of Home Builders says he was most encouraged by word that the
supply of new homes on the market dropped in July.
The report on new home sales comes a day after the National
Association of Realtors reported sales of previously-owned homes
rose in July, as buyers were lured by discounted home prices.