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Analysts forecast that Detroit-based GM earned $2.38 per share on $44.7 billion in revenue. GM easily beat Wall Street’s second quarter sales and profit projections as U.S. customers buying new GM vehicles last quarter paid an average of just under $49,900, helping boost the company’s net income 15% above a year ago.The National Association of Realtors gives its latest update on the U.S. housing market on Wednesday.
Economists project that sales of previously occupied homes inched up modestly in September to a seasonally adjusted annual rate of 3.92 million homes. In August, home sales fell to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market continued to rise. Home prices increased on an annual basis for the 14th consecutive month.
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