New-home sales up nearly 10 percent

July's new-home sales reports show more positive news for the real estate industry.

New-home sales increased by 9.6 percent in July from June, but are still down 13.4 percent from July 2008.

While new-home sales reflect economic and housing trends, they aren't a true reflection of existing-home sale trends, particularly since the first-time home buyer tax credit has likely encouraged many buyers to purchase existing homes rather than new ones.

Check back to Delta Media Group's News blog for future new and existing-home sales numbers.