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  • City's Poverty Task Force Falls Short Of Members

    sheltoncityCommunity Development Director Steve Goins asked the City Commission to reconsider requirements for potential task force members. Goins requested Resolution 1065-0414 be modified to reduce the wording from ‘seven members’ to ‘five to seven members’ to get the task force moving.

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  • Blue Angels Return

    blueangelsAs the Blue Angels return to Seattle for Seafair, so do Interstate 90 bridge closures. The state Department of Transportation is reminding motorists that the I-90 bridge over Lake Washington will be closed as the Blue Angels practice twice on Thursday… Read More +

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  • Lynch's Absence Means Opportunities In Seattle

    seahawks blueThe absence of Marshawn Lynch from Seattle Seahawks training camp means opportunity for Robert Turbin and Christine Michael. Turbin and Michael were already going to get the bulk of the work during the preseason with Lynch being prepped for the grind of the regular season. But with Lynch holding out, Turbin and Michael are getting a greater opportunity to show they can handle the load.

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July New Home Sales Fall 13.4%

b_250_0_16777215_00_images_obgrabber_2013-08_c95733ebab.jpgiStockphoto/Thinkstock(WASHINGTON) -- New home sales plunged 13.4 percent in July to an annualized pace of 394,000 units -- the biggest decline in sales since May of 2010. “The drop was consistent across all regions of the country so it's pretty pervasive and I think it was basically the result of the rise in interest rates,” said David Crowe, chief economist at the National Associate of Home Builders.

“Buyers took a breather,” Crowe said. “They stepped back from the market when they saw interest rates go up.”

Economists polled by Bloomberg were looking for new home sales to fall 2 percent to an annualized pace of 487,000 units. Despite the dramatic dip last month, Crowe believes the downturn is temporary because housing prices are going up and jobs are returning.

Copyright 2013 ABC News Radio

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