US pending home sales rose dramatically in July, a trade group said Thursday, promising a much-needed boost to the sluggish housing market.

Reuters - The future of an 80-acre New York apartment complex will be at stake on Thursday as a judge considers whether a venture led by a prominent hedge fund investor may conduct a foreclosure auction.

AP - Major banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors.

AP - Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments.

Construction spending tumbled in July to the lowest level in a decade, as the housing market struggles in the weak economy and without a popular home-buying tax credit.

AP - Wary investors turned to gold Tuesday, sending the price to its highest level in two months, despite slightly more optimistic economic news.

The economy is weakening, home sales are plunging and stocks are on a long slide. Now comes something even scarier for investors — the beginning of what is traditionally the worst month in the market.

The Motley Fool - The recent pullback in the stock market has many investors running for cover. Meanwhile, fear of an imminent double-dip recession and concerns about renewed pressure in the housing market has pushed bond prices to historic highs, reducing bond yields and creating an income crunch for savers. Throughout 2010, billions of dollars have gone into bond mutual funds, and the trend shows no sign of reversing anytime soon.

AP - The Obama administration's top housing official says several new programs are in the works to help try to revive the housing market.

The Real Estate Roundtable, which represents commercial property owners, spent $930,000 in the second quarter lobbying federal officials on issues including a proposal to raise taxes on real estate partnerships.

Coromandel real estate agent Valma Olliver has been reprimanded and fined $5000 for altering an agreement in a bid to claim more of a commission.