existing home sales

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Sales of Pricey Homes Surge

And median home price is going up

(Newser) - Another sign of economic recovery? Sales of higher-end homes—those priced above $750,000—were up 50% in November from a year prior, CNBC reports. Meanwhile, sales of the lowest-end homes fell 4%. The two factors pushed the median home price across the nation to $180,600, up about 10%... More »

Dow Rises 4 on Good GDP Data, Bad Housing News

GDP grows 5.9% in last quarter of 2009

(Newser) - Stocks closed out February by nudging into positive territory as investors weighed the news that GDP grew by 5.9% last quarter but existing-home sales plunged, the Wall Street Journal reports.
  • The Dow gained 4.23 points to close at 10,325.26.
  • The Nasdaq added 4.04, settling at
... More »

Up 133, Dow Hits New '09 High

Data on home resales spur rally

(Newser) - Stocks rallied today on news that home resales jumped 10.1% in October and comments from the president of the St. Louis Fed reaffirming the government's extended commitment to support the credit markets, the Wall Street Journal reports.
  • The Dow jumped 132.79 points to close at 10,450.95,
... More »

Dow Climbs 156; Stocks Hit Highs

Jump in existing-home sales spurs rally

(Newser) - Stocks rallied today off of strong housing data, propelling all three major indices to their highest levels of the year, the Wall Street Journal reports. Sales of existing homes rose 7.2% in July, the National Association of Realtors said, beating analysts’ expectations by a generous margin. The Dow rose... More »

Home-Sale Index Skyrockets, Boosting Recovery Hopes

(Newser) - Pending sales of existing US homes soared in April, posting their largest jump since October 2001. Combined with a 3.2% jump in March, the 6.7% increase in April—far more than the forecast 0.5%—suggests a longer-term upward trend, the Wall Street Journal reports. Dipping prices, low... More »

Dow Rallies on Housing; Up 214

Financials and materials firms gain on construction spending, existing home sales

(Newser) - Stocks rallied today on positive economic news, with the S&P 500 surpassing the psychologically significant 900 mark, the Wall Street Journal reports. Surges in construction spending and existing-home sales fueled investor optimism, with financials and materials firms pacing advances. The Dow rose 214.33 to close at 8,426.... More »

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.... More »

Foreclosures Undercut Builders

(Newser) - Foreclosures and other vacant homes make this a tough time to be a builder, the Wall Street Journal reports. Consider Pulte Homes, which is selling a new, four-bedroom home in Las Vegas for $214,990—while a short sale nearby offers a similar Pulte-built home for $149,999. “We... More »

Dow Rebounds, Rises 142

Banks still feel pain ahead of next bailout

(Newser) - Stocks bounced back in the wake of yesterday’s sell-off, with news of a rise in December existing-home sales feeding optimism, the Wall Street Journal reports. Merck continued to rise after reporting a quarterly profit, closing up 7.7% and boosting other pharmaceuticals. The Dow closed up 141.53 points... More »

Dow Up 58 On Mixed Data

December existing-home sales rise 6.6%

(Newser) - Stocks ended higher for the third straight day today amid mixed financial news, the Finanical Times reports. Home prices sank, leading to a surge in sales, while consumer confidence remained low. A better-than-expected earnings report from AmEx led financials higher as the Dow closed up 58.70 points at 8,... More »

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... More »

Dow Rises 62 Despite Data

Oil futures end a four-day rally

(Newser) - Stocks failed to hold on to session highs but made gains today amid a series of dismal, if not unexpected, economic reports. Oil futures ended a four-day rally, falling $0.23 to $48.59 a barrel after briefly topping $50, Marketwatch reports. The Dow added 62.21 points to close... More »

Dow Falls 100 on Gloomy Data

GM, Ford fall on ratings downgrades

(Newser) - Stocks fell today amid light holiday-week trading as reports on housing and the economy reminded investors how horrid the year has been, the Wall Street Journal reports. The Dow closed down 100.28 points to close at 8,419.49. The Nasdaq fell 10.81 points to close at 1,... More »

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... More »

Existing-Home Prices Take Record Dive

11.3% decline is biggest on record; sales down again in Oct. after Sept. uptick

(Newser) - After a brief, unexpected rise in September, sales of existing homes plunged again in October, with the median price taking its biggest drop on record, the Wall Street Journal reports. Home resales fell 3.1% to a 4.98 million annual rate, from September’s revised 5.14 million pace.... More »

Home Sales Climb, but Prices Keep Falling

Expanding inventories still damaging market

(Newser) - Existing home sales were better than expected in July, rising 3.1% to an annual rate of 5 million, the Wall Street Journal reports. But inventories continued their steady expansion anyway, driving prices further downward. The median home price for July was $212,400, down 7.1% from July 2007.... 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 »

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... 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 »

Existing Home Contracts Down in February

Still no sign of bottom in housing values

(Newser) - Contracts to buy previously owned homes declined 1.9% in February, according to the National Association of Realtors’ index, which fell to its lowest levels since its creation in 2001. The drop was nearly double the 1% decline analysts predicted, reports Bloomberg, and sent stocks tumbling further. More »

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