The Commerce Department reported a sales dip of 0.2 percent to an annual rate of 481,000 units, says Reuters.
But despite analysts saying the housing economy is lagging the American economy overall, there is growing optimism coming from the industry.
The Mortgage Bankers Association reports an increase of loan requests by 4.6 percent, which is a positive indicator for home sales. In addition, home prices are showing signs of accelerating after slowing in 2014.
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