Skip to: Content
Skip to: Site Navigation
Skip to: Search

August 21, 2008 8:19:19 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

New-Home Sales Grow, Spur Wall St.

Posted Aug 24, 07 11:21 AM CDT in US,  Business 

(Newser) – New-home sales grew 2.8% last month, delivering an unexpected bit of good news to investors still reeling from the credit crunch. But the housing market, which had been rebounding in recent months from a slump, will likely show renewed weakness after he mortgage crisis dust settles, Bloomberg reports.

Officials at the Federal Reserve say the nation’s worst housing slump in 16 years will continue to dog its economic growth, conceding that pessimism in the real estate sector could spread to other areas of the economy. One analyst speculated that tougher restrictions on credit “could further dampen residential investment.”

Source Bloomberg

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Bernanke Tosses Out His Rule Book

    Mar 16, 08 9:19 AM CDT
    Bernanke Tosses Out His Rule Book With a recession and worsening meltdown on Wall Street looming, Fed chief Ben Bernanke has dumped textbook central bank economic policy, reports the New York Times. Last week's bailout of Bear Stearns, for example, seemed to fly in the face of his previous reluctance to rescue big institutions. And it came in the same week the Fed made $200 billion available to investment banks and another $100 billion for banks and thrifts. More »

A D.R. Horton home builder sold sign sits in front of a newly built home in the Kingston Meadows development in Glenn Heights, Texas, in this Jan. 20, 2007 file photo. D.R. Horton, one of the nation's...   (Associated Press)
The sign stands outside an unsold new home in the east Denver suburb of Aurora, Colo., on Sunday, Aug. 19, 2007. The Commerce Department reported Friday that new-home sales rose 2.8 percent in July, after...   (Associated Press)
Homes with for sale signs are shown in Vallejo, Calif., Wednesday, Aug. 15, 2007. July home sales in a nine-county swath around San Francisco Bay dropped 12 percent over what they were during the same...   (Associated Press)
For sale signs are shown in front of homes in Vallejo, Calif., Wednesday, Aug. 15, 2007. July home sales in a nine-county swath around San Francisco Bay dropped 12 percent over what they were during the...   (Associated Press)
A home is advertised for sale at a foreclosure auction in Pasadena, Calif., Tuesday, Aug. 14, 2007. Home sales in a six-county region of Southern California dipped to a 12-year low for July as a growing...   (Associated Press)
A newly constructed home waits for an owner in Bainbridge Twp., Ohio on Thursday, July 26, 2007. Sales of new homes fell in June by the largest amount in five months as the housing industry continued...   (Associated Press)
A sold sign is shown in front of a new home under construction, Wednesday, July 25, 2007 in Columbus, Ohio. Sales of new homes fell in June by the largest amount in five months as the housing industry...   (Associated Press)
A new home under construction sports a sold sign in the front yard in the Choate Farm neighborhood in Danvers, Mass., Wednesday April 25, 2007. Sales of new homes, helped by better weather, posted a...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 2)

Tags

Federal Reserve  • Wall Street  • Ben Bernanke  • housing crisis  • interest rate  • real estate  • credit market  • home sales  • Countrywide  • Commerce Department  • Toll Brothers



Today's Most Popular


Other Home Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »