Home Sales, Construction Probably Rose: U.S. Economy Preview

Home sales and construction in the U.S. probably rose in June from depressed levels as the industry struggled to gain traction in the face of foreclosures, falling prices and rising unemployment, economists said before reports this week.

Purchases of previously owned homes climbed 2.9 percent from May’s six-month low to a 4.95 million annual rate, according to the median projection of 55 economists surveyed by Bloomberg News before a National Association of Realtors’ report on July 20. Housing starts rose 2.7 percent to a 575,000 pace, economists forecast another release will show a day earlier.