New Home Sales Rise.

August 25th, 2007

In a weird twist of fate, the new home market actually perked up last month.

Sales of new homes perked up, while factory orders took off in July, raising hopes that the economy can safely weather financial turmoil that has shaken Wall Street.

The Commerce Department reported Friday that new-home sales rose 2.8 percent in July, after falling 4 percent in June. The increase in July lifted sales to a seasonally adjusted annual rate of 870,000 units. A second report showed that orders to factories for big-ticket goods jumped 5.9 percent in July, the most in 10 months.

How ironic is that?

Technorati Tags: odd, strange, fate, new home, sales

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