Last week's economic readings included reports on sales of new and pre-owned homes, mortgage rates and first-time jobless claims. New Home Sales Slide; Pre-owned Home Sales Meet Expectations Commerce Department reported lower sales of new homes in June. Sales were expected to reach 666,000 sales on a seasonally adjusted annual basis, but the actual reading slipped by 5.30 percent to a pace of 631,000 new home sales. Analysts cited higher building costs, home prices and mortgage rates sidelined some buyers. Concerns over inadequate inventories of available homes also impacted sales of … [Read more...]