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NEWS ABOUT: home prices

Street Watches Hill; Stocks Fall

Investors worry about Congress delaying bailout; home prices decline 0.6% in July

(Newser) - Stocks traded sharply lower at the end of today’s roller-coaster session as investors watched lawmakers balk at quickly enacting the financial bailout plan, the Wall Street Journal reports. The Dow fell 161.52 to close at 10,854.17. The Nasdaq lost 25.64, closing at 2,153.34,... More »

Housing Will Bottom June 30, 2009: Cramer

Bombastic guru lists 10 signs of a real-estate turnaround

(Newser) - Jim Cramer has spent over a year “shouting in my usual unhinged way” about the bleak real estate market, he writes in New York. But now he’s so confident housing’s headed for a bottom that he’ll name the exact date: June 30, 2009. Why?
  1. New home
... More »

Home Sales Up in July; Market Glut Begins to Ease

Inventory still high as monthly declines ease

(Newser) - New home sales rebounded a bit in July, according to Commerce Department data released today, and the glut of properties on the market began to ease, Bloomberg reports. The 2.4% uptick in sales fell short of the pace economists were looking for—hitting a 515,000 annual pace rather... More »

Housing, AIG Spur Losses

AIG is the troubled financial firm du jour

(Newser) - Stocks fell today as bad news from the housing and financial sectors diminished hopes that the economic slump will lift soon, the Wall Street Journal reports. The Dow fell 241.81 points to 11,386.25, led by a 5.5% loss at beleaguered insurer AIG. The Nasdaq fell 49.... More »

Home Prices Fall Again; Rate of Decline Sets Record

Consumer confidence numbers offer ray of hope

(Newser) - Home prices continued to nosedive in May, a signal that the housing crisis may be worsening and a red flag for the credit markets and Wall Street, reports the New York Times. Every region covered by the S&P/Case-Schiller home-price index showed a drop compared to May 2007, with the... More »

A Year On, Credit Crisis Lingers

'Vicious circle' threatens broader economy

(Newser) - Despite assurances from some experts that the credit crisis would be short-lived, the forecast remains bleak after more than a year of frustrations, the New York Times reports. In a “vicious circle,” falling home prices lead to more bad loans, which makes credit harder to get so that... More »

Home Prices Take Steepest Tumble Since 2000

Housing index fell by 15.3% in April versus a year ago

(AP) - US home prices tumbled in April at the fastest rate since the Standard & Poor's/Case-Shiller index started keeping track in 2000, with all 20 metropolitan areas surveyed posting annual declines for the first time. The index fell by 15.3% in April versus a year ago, according to today's report.... More »

Housing Slump Won't Ease Anytime Soon, Says Study

Tight credit, interest rate worries keep homebuyers on sidelines

(Newser) - Rising mortgage rates and a tenacious slump in sales and home values will continue to depress the worst housing market in decades, reports Reuters. Don't expect potential saviors—new home buyers—to make a dent any time soon, says a Harvard study. With mortgage rates at a 9-month high, credit... More »

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... More »

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.... More »

Down in Polls, Brown Admits 'Mistakes'

Ahead of UK local voting, PM confesses tax missteps

(Newser) - With polls predicting big losses for his Labour party in tomorrow’s local elections, British Prime Minister Gordon Brown admitted he’d made mistakes in the past six months, Reuters reports. Chiefly, Brown acknowledged increasing the tax burden on the lowest-paid workers and those aged 60-64, but said both problems... More »

Home Prices Take Record Dive

Key index drops 12.7%; consumer confidence plummets

(Newser) - A key measure of home prices fell fell 12.7% in February, the biggest decline in its 7 years of existence, and consumer confidence measured this month hit a 5-year low, Bloomberg reports. The S&P/Case-Shiller home price index reflects the crush of foreclosures and resultant tightening of lending standards.... More »

New-Home Sales Hit Lowest Level Since '91

8.5% drop much worse than expected; supply hits 27-year high

(Newser) - New-home sales fell yet again in March, the Wall Street Journal reports, with single-family sales off 8.5% to an annual rate of 526,000, the lowest level since 1991. Analysts had expected a drop of only 1.9%. The median price, meanwhile, plummeted 13.3%, to $227,600. With... More »

March Home Sales, Prices Fall

Buyers can't get loans, or are awaiting bigger price drops

(Newser) - Prices on existing homes fell in March, but buyers stayed away, either unable to get loans, or betting on yet bigger drops, Bloomberg reports. Sales dropped 2%, to an annual rate of 4.93 million, as the median price fell to $200,700 from $217,400 last year. The number... More »

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 ... More »

Home Prices, Consumer Confidence Nosedive

Housing trouble worsens as recession worries mount

(Newser) - Home prices plummeted again in January, falling a record 10.7% compared to January 2007, according to the bellwether S&P Case/Shiller Hope Price composite. The March consumer confidence index, also out today, plunged to a 5-year low in yet another indication of recession, Bloomberg reports. The Conference Board measures... More »

Surprise! Existing Home Sales Jump

February's 2.9% rise surprises analysts; median price tumbles unprecedented 8.2%

(Newser) - Existing home sales stunned Wall Street today with an unexpected spike, Bloomberg reports. The metric rose 2.9% in February to an annual pace of 5.03 million. Analysts had predicted yet another decline, to a 4.85 million pace. But one economist said this was only a “temporary... More »

Sinking Home Values Lead to 'Walkaways'

Owners grappling with negative equity can afford to pay but choose not to

(Newser) - Freefalling home values may be creating yet another crisis in the mortgage industry. The new phenomenon: homeowners capable of paying their mortgages who walk away, unwilling to pour money into a property that’s worth less than they originally paid. "It may not be a big thing yet, and... More »

Home Prices Decline Across Country

8.9% declines posted for fourth quarter in 10 biggest markets

(Newser) - Home prices in the top 10 metro areas slumped 8.9% over the previous year, the largest decline in 20 years, according to the closely watched S&P/Case-Shiller price index, released today. "Wherever you look things look bleak," one economist tells the Wall Street Journal, noting that declines... More »

Home Sales, Prices Sink Again

Would-be buyers get comfy, waiting for better deals

(Newser) - Existing-home sales and home prices continued to fall in January, indicating that would-be buyers are waiting for the market to bottom out, the Wall Street Journal reports. "Inventories are high, so it's not surprising prices are declining," said one economist, who described home sales as "soft but... More »

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