Housing Market, May | featured news

Consumer confidence sank in July to its lowest since February on job market worries, underscoring the slow path to economic recovery, and home prices rose in May but without signs of a sustained rebound, reports released on Tuesday showed.

Sales of previously occupied homes dipped 2.2 percent in May, suggesting government home-buying incentives are winding down earlier than anticipated.

Existing home sales in the U.S. rose in May for a second month as record foreclosures caused prices to drop.