Existing home sales increased 6.5% to a 5.390 million annual rate for July. New home sales fell 13.4% to an annual rate of 394,000 in July. Initial jobless claims rose 13,000 to 336,000 for the week ended 8/17.

• Existing home sales increased 6.5% to a 5.390 million annual rate for July. Sales were up 17.2% from a year ago. The median home price of $213,500 was up 13.7% over the year.

• New home sales fell 13.4% to an annual rate of 394,000 in July. The rate is the lowest since October 2012 and includes major downward revisions for the prior two months. The median new home price of $257,200 is up 8.3% from a year ago.

• Initial jobless claims rose 13,000 to a level of 336,000 for the week ended August 17th.