The Commerce Department reports that new-home sales fell 4.3% in July, far more than the expected 2.7%.
The third report on existing home sales published on Friday also beat market expectations.
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Last week, existing home sales and new home sales were both better than expected.
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In other words, there was a small, but noticeable pickup in home sales in October.
Home sales and prices bottomed last year and have been recovering at a surprising pace since.
In recent days it was reported that pending home sales rose 6% in April.
U.S. economic data due for release Friday is light and includes existing home sales.
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The most successful home sales are the listings that are priced right from day one.
Two other gauges do adjust for quality differences, mainly by dealing only with repeat home sales.
Pending home sales are out on Wednesday, and then GDP and jobless claims on Thursday.
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Like existing-home sales, March housing starts, while up month-over-month, were still down 13.4% from last year.
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Gross margin on home sales widened to 22.5% from 19.4%, one of the sector's highest rates.
The NAR is forecasting that existing-home sales will decline 4.9% to 5.8 million units in 2004.
Home sales plunged back into the recessionary hole the instant the government rebates stopped.
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Thursday features revised second-quarter productivity, July pending home sales and the August Monster Worldwide employment index.
These will be followed Friday by personal income, consumer sentiment and pending home sales.
Leading indicators dropped 0.3%, after jumping 0.7% in March, and existing-home sales were also lower.
Monday : The economic calendar kicks off with construction spending and pending home sales on Monday.
Nomura has April single family home sales up 0.9% after falling 7.1% in March.
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Strike three came a half-hour after the opening bell Wednesday, with new home sales.
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Unlike existing home sales, new home sales count as soon as a contract is signed.
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September new home sales and durable goods orders data will be published on Wednesday.
On Wednesday, we get more news on housing, with pending home sales data for April.
The seasonally-adjusted percentage increase in new home sales registered in January was the biggest since 1993.
Thursday will feature September existing home sales, the October Philadelphia Fed survey and September leading indicators.
Existing home sales were lower on Friday, as the increased demand has reduced the inventory.
Demand for these loans has been driven in part by a surge in luxury home sales.
Manufacturing fell sharply in April, home prices are falling and new-home sales plunged in March.
Florida home sales just last month were down 28 percent compared to this time last year.
America's booming housing market slowed slightly in October, as new-home sales slid by 4.5%.
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