(MENAFN) US home sales reached a 10-month high in July while the number of Americans filing claims for jobless benefits fell, signaling strength in the American economy, The Peninsula Qatar reported.

The National Association of Realtors announced that home sales last month increased 2.4 percent, reaching an annual rate of 5.5 million units, the highest number since last September and the fourth consecutive monthly gain in sales.

Meanwhile, The Labor Department said that claims for state unemployment benefits fell 14.000 last week to reach 298.000 The jobless claims four-week average also fell 8.5000 between July and August, suggesting another month of seemingly strong job gains.