July housing-market indicators signified that despite a slowdown in the market, it still remains very strong.

Seasonally adjusted housing starts declined 3% to 1.554 million units per year, while existing home sales posted a 3% increase to 5.23 million units per year, according to a PaineWebber report. Meanwhile, consumer confidence rose 4% to 141.7, slightly below the record January number. The homeownership rate reached a record high for the second quarter, rising to 67.2%, up from 67.1% in the first quarter, according to the U.S. Department of Housing and Urban Development.

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