New-home sales climbed a second time in three months during April, an encouraging sign for the housing market, but another big tumble in the median price suggested a recovery hasn’t begun.
Separately, the number of freshly laid-off workers filing new claims for state unemployment benefits fell more than expected last week even as the total number of people collecting benefits set a new record for the 17th time in as many weeks. Meanwhile, durable goods orders unexpectedly surged in April, driven partly by a bounce in demand for cars, according to data giving further evidence manufacturing isn’t as soft as it had been. However, March’s reading was revised significantly lower.