home sales

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New-Home Sales See Surprise Bounce

But prices decline

(Newser) - New-home sales took a surprise upward turn in February, the Commerce Department announced today—the first time sales have increased in seven months. But prices continued to tumble. Single-family home sales were up 4.7%, besting analyst expectations of a 2.9% decline. That still left them down 41.1%...

Existing Home Sales Jump 5.1%
 Existing Home Sales Jump 5.1% 
Mar 23, 2009 10:00 AM CDT

Existing Home Sales Jump 5.1%

(Newser) - Previously owned home sales took a 5.1% leap in February, to an annual rate of 4.72 million, Bloomberg reports, as a median price down 15.5% year-over-year brought out the bargain hunters. That blindsided analysts, who had expected sales to fall to a 4.45 million annual rate....

Watch Out for These Economic Recovery Signs
Watch Out for These Economic Recovery Signs
analysis
Feb 9, 2009 4:52 PM CST

Watch Out for These Economic Recovery Signs

Keep an eye out for slowing pasta sales

(Newser) - We knew the economy was toast when the GDP dropped 3.8% in the last quarter. But such data lags behind the real economy, writes Dan Kadlec in Time, so watch out for these indicators of a turnaround:
  • Home sales. They started the downturn, so any upswing is a good
...

Dow Ticks Up 38 Amid Layoffs
 Dow Ticks Up 38 Amid Layoffs 
MARKETS
Jan 26, 2009 3:16 PM CST

Dow Ticks Up 38 Amid Layoffs

Home sales report boosts stocks

(Newser) - Stocks closed with mild gains today even as US firms announced roughly 50,000 job cuts, the Wall Street Journal reports. The market was buoyed by a report that home sales are picking up as buyers take advantage of low prices. The Dow closed up 38.47 at 8,116....

Home Prices Plunge Record 15.3%, Boosting Sales

Median US price was $175,400 in December, off 15.3%

(Newser) - US home prices took an unprecedented dive in December, Bloomberg reports, with prices of existing units dropping 15.3% over the same month last year—the biggest drop on record, and probably the biggest since the Great Depression. Sales, however, unexpectedly ticked up 6.5% in December, the National Association...

Home Sales, Prices Plunge
 Home Sales, Prices Plunge 
Dec 23, 2008 10:52 AM CST

Home Sales, Prices Plunge

Everyone was really surprised

(Newser) - The housing market had another staggering setback in November, with sales of new and existing homes tumbling while prices took their biggest hit on record, the Wall Street Journal reports. Existing-home sales fell a worse-than-expected 8.6%, while the national median price fell 13.2% to $181,300, the steepest...

Mortgage-Rate Drop Sets off Refinancing Rush

The biggest rate drop in seven years sends homeowners to banks looking for deals

(Newser) - The biggest one-day decline in mortgage rates in 7 years set off a frenzy of refinancing yesterday, as homeowners who'd been waiting for a bargain jumped into the market. The nearly one-point decline was prompted by the Fed's $600 billion commitment to buy mortgage-backed securities, reports Bloomberg. "It's the...

Elderly Trapped in Houses That Won't Sell

Lack of buyers forces frail elderly to postpone plans for assisted living

(Newser) - The collapse of the housing market has left many elderly people marooned in their own homes, the New York Times reports. Retirement communities require hefty down payments that many elderly were expecting to raise by selling their homes. With no buyers out there, frail people requiring daily care are stuck...

New Home-Sale Incentive: Free House Calls

(Newser) - Home sales being a little tricky these days, a luxury developer in the trendy Buckhead section of Atlanta has stumbled onto a unique form of incentive: free house calls from doctors. Deep-pocketed buyers who plunk down $2 million to $12.5 million to live in a new high-rise will get...

Home Sales Up 5.5%, Biggest Gain in 5 Years

Inventories still at historic highs

(Newser) - Sales of existing US homes rose by the largest amount in more than five years in last month, a real estate trade group said today. The data offer a glimmer of hope that the housing slump could be starting to bottom out. The National Association of Realtors said sales of...

Housing Prices Look for Basement

(Newser) - A witch’s brew of factors is cursing the US housing market, reports the New York Times, driving home prices ever lower as they search for bottom. Rising unemployment, higher interest rates, lower wages, and a glut of foreclosures are likely to continue to keep the market depressed through much...

Stocks Climb Nearly 200 Points
 Stocks Climb Nearly 200 Points 
MARKETS
Sep 25, 2008 3:15 PM CDT

Stocks Climb Nearly 200 Points

Poor housing, durable goods goods data don't deter market's optimism

(Newser) - Stocks rallied this afternoon on news that lawmakers had reached a consensus on the Wall Street bailout plan, MarketWatch reports. Optimism proved infectious as GE rose 6.26% despite cutting an earnings estimate earlier today. The Dow climbed 196.89 points to 11,022.06. The Nasdaq gained 30.89...

Stocks Reverse; Dow Down 280
 Stocks Reverse; Dow Down 280 
MARKETS
Sep 9, 2008 3:16 PM CDT

Stocks Reverse; Dow Down 280

Lehman Bros., housing weigh on investor sentiment

(Newser) - After a strong rally yesterday following news of the Fannie/Freddie bailout, stocks gave most of the gain back today as the failure of talks between Lehman Brothers and Korea’s state bank sent shares in the investment giant down 44.1%, MarketWatch reports. The Dow fell 280.01 to close...

Rise in Renters Wiping Out Gains in Homeownership

Effects of subprime crisis evident as percentage of owners drops

(Newser) - Americans are shifting from being homeowners to renters in rising numbers, the New York Times reports, all but wiping out gains made during the boom. The percentage of homes headed by homeowners dropped from 69.1% to 67.8% this year, which sounds modest, but is, in fact, the biggest...

Stealing Home: Five Signs It's Time to Lowball

Forget the market and climb inside the seller's head

(Newser) - It's not always the economy, stupid. Even in a weak market, buyers should consider a homeowner's situation before hurling a lowball bid, writes Daniel McGinn in Newsweek. One real estate broker offers five sure signs that a seller is ready to deal:
  1. Nobody's home. Sellers who have moved on, or
...

New Wave of Foreclosures Expected in '09

ARM holders will see payments soar as their mortgages reset

(Newser) - America’s subprime victims may have grudgingly accepted their fate, but there’s a new class of borrowers primed to suffer, BusinessWeek reports. Homeowners who took out ARMs, or adjustable rate mortgages, will soon face skyrocketing payments as their loans reset. About a million people have the mortgages, but only...

Foreclosure Sales Rebound as Buyers Snap Up Deals

But prices drop drastically as lenders bite the bullet

(Newser) - April generally was not a great month for home sales, the Wall Street Journal reports—except in the areas hardest hit by the subprime crisis as lenders slash prices on foreclosed homes and buyers snap them up. Subprime-riddled Detroit, for example, has seen home sales rise 48% in the past...

Dismal Day Ends Dismal Week
 Dismal Day Ends Dismal Week 
MARKETS
May 23, 2008 3:34 PM CDT

Dismal Day Ends Dismal Week

Housing, oil continue to pummel equities

(Newser) - Stocks fell today, rounding out a gloomy week as the familiar themes of housing malaise and energy costs manifested in widespread big losses, MarketWatch reports. The Dow fell 145.99 to close at 12,479.63, the Nasdaq lost 19.91, settling at 2,444.67, and the S&P...

Home, Retail Sales Keep Sliding
 Home, Retail Sales Keep Sliding 
May 13, 2008 11:36 AM CDT

Home, Retail Sales Keep Sliding

Retail decline due mainly to big autos drop; foreclosures depressing housing values

(Newser) - The housing market continued to plunge in the first quarter of 2008, as single-family sales dropped 22% from their year-ago pace, to 4.95 million annually. Bloomberg reports that the median home price is off 7.7% from a year ago, to $196,300, as foreclosed properties drag down values....

Real Estate Slump Strikes Manhattan

Average apartment price soars to record; big picture grim

(Newser) - Manhattan real estate prices hit record highs in the first quarter of 2008, but sales declined, showing that the housing crunch is starting to affect the island, Bloomberg reports. The average price of a Manhattan apartment was $1.7 million, up 33.5% from last year, the New York Times ...

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