WASHINGTON—Sales of newly built homes rebounded and prices rose briskly in April, a sign of rising demand that may spur builders to ramp up construction.
Greece has again threatened to default on loan repayments due to the International Monetary Fund, saying it will be unable to meet pension and wage bills in June and also reimburse €1.6bn owed to the IMF without a bailout deal with creditors.
Home prices across metro Detroit continue to regain lost ground, rising 4% in March compared to a year earlier in the latest Standard & Poor's/Case-Shiller Home Price index.
Stocks tumbled Tuesday as a stronger U.S. dollar and mixed economic data rattled investors. After returning from a three-day holiday weekend, investors sent the Dow Jones industrial down for a second straight day as it dropped nearly 200 points, or 1.1%.
Orders for durable goods from U.S. factories fell 0.50 percent in April after posting a 5.1 percent increase in the previous month, the Commerce Department reported Tuesday.