Consumer Confidence Down to Lowest Level in Seven Months

Some mixed news on the economy.

FOX’s Pat O’Neill reports:

Consumer confidence has dipped to its lowest level in seven months as worries over the sluggish economy and stock market turmoil take a toll.

But the Conference Board says consumer views on current business conditions still suggest the economy will keep growing at a moderate pace in the months ahead.

Sales of pre-owned homes, meanwhile, edged up about a half-percent thanks to low mortgage rates and jobs gains. The sales pace is the second-highest since 2007 and up 11% from the same period a year ago. 

But it puts house-hunters in a bit of a bind, the number of listings has dropped, leaving few choices and pushing prices higher.

Pat O’Neill, FOX News.