What should investors make of August’s better-than-expected 7.6% rise? Not too much. Even though it’s a big improvement over July’s ugly 27.2% plunge, it’s still the second-lowest month for existing-home sales in the past 15 ye…
Housing starts rose 10.5% in August to a seasonally adjusted annual rate of 598,000, providing hope that the sector is stabilizing. However, economists caution that monthly data have a large margin of error.
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Housing data is in the financial spotlight this week, along with an FOMC meeting, the leading economic indicators index and quarterly reports from a number of companies including Adobe, AutoZone and Lennar.
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