Weekly Economic Update: July 22-26, 2013
Existing home sales fell 1.2% in June to a lower-than-expected annual pace of 5.08 million units. New home sales were up to a higher-than-expected annual pace of 497,000 units in June. Durable orders increased a stronger-than-expected 4.2% in June. Initial jobless claims rose 7,000 to 343,000 for the week ended 7/20.
• Existing home sales fell 1.2% in June to a lower-than-expected annual pace of 5.08 million units. Sales were up 15.2% over the year. The median home price was up 5.5% to $214,200.
• New home sales were up to a higher-than-expected annual pace of 497,000 units in June. The median home price was down 5.0% to $249,700.
• Durable orders increased a stronger-than-expected 4.2% in June. Excluding transportation, durable orders were unchanged over the month.
• Initial jobless claims rose 7,000 to a level of 343,000 for the week ended July 20th.