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Durable goods orders dip while home foreclosures rise

Sustained home price gains not likely until 2013, RealtyTrac says

Furniture Today Staff -- Furniture Today, July 29, 2010

WASHINGTON — According to the U.S. Commerce Department, orders for durable goods dropped in June by 1% to a seasonally adjusted $190.5 billion. This is the second month in a row that order for durable goods dipped.
Meanwhile, the latest report from RealtyTrac found that about 75% of America's largest metropolitan areas with a population of 200,000 or more saw a year-to-year rise in home foreclosures during the fist six months of this year.

As a result, the company also predicted that sustained home price gains were not likely until 2013.

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