Contracts to purchase previously owned homes rose more than forecast in July, a sign of renewed momentum in residential real estate.

New-home sales in the U.S. fell unexpectedly in July for the second month as the housing recovery makes only fitful progress.

Purchases of previously owned U.S. homes rose in July to a 10-month high as low borrowing costs and an increase in inventory drew buyers.

Retail sales were little changed in July, the worst performance in six months, as tepid wage growth restrained U.S. consumers.

The index of pending home sales declined 1.1 % in June after rising 6% in May, figures from the National Association of Realtors showed.

Sales of previously owned U.S. homes climbed in June to an eight-month high as more listings helped prices cool, luring buyers into the market.

Retail sales showed a broad-based gain in June, which probably helped the U.S. economy rebound in the second quarter.

The number of contracts to purchase previously owned U.S. homes jumped in May by the most in more than four years, a sign the residential-real estate market is rebounding after a slow start to the year.

Sales of new homes increased 18.6% in May, the biggest one-month gain since January 1992, to a 504,000 annualized pace, figures from the Commerce Department showed June 24 in Washington.