U.S. new-home sales fall sharply

08/25/2013 | Bloomberg

Adding to fears that higher interest rates may stall momentum in the key U.S. housing market, sales of new homes plunged 13.4% in July, the widest margin in three years. "It's definitely a rate shock. You could see another month or two of weak sales, or it could go longer," said Doug Duncan, chief economist at Fannie Mae in Washington.

View Full Article in:

Bloomberg

Published in Briefs: