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July 25, 2008 1:21:13 PM CDT

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Stories related to: home sales

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  • June 2008

    • Rise in Renters Wiping Out Gains in Homeownership

      newser  |  New York Times  |  Jun 21, 08 7:29 AM CDT

      Rise in Renters Wiping Out Gains in Homeownership

      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 decline in 20 years. President Bush's ambitious "ownership society" plan hoped to see more low-income and minority families own their own homes, but these groups have been hardest hit by the subprime crisis. More »

      Tags

      subprime mortgages  • housing market  • mortgage  • home sales  • homeownership  • rent  • property

    • Stealing Home: Five Signs It's Time to Lowball

      newser  |  Newsweek  |  Jun 20, 08 1:18 PM CDT

      Stealing Home: Five Signs It's Time to Lowball

      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: Nobody's home. Sellers who have moved on, or will soon, probably want to unload the property fast.   More »

      Tags

      list  • housing market  • business  • real estate  • home sales  • homeowners

    • New Wave of Foreclosures Expected in '09

      newser  |  BusinessWeek  |  Jun 7, 08 10:44 AM CDT

      New Wave of Foreclosures Expected in '09

      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 a small number have already fallen due. “It's a ticking time bomb inside your house that you can't get rid of,” one insider said. More »

  • May 2008

    • Foreclosure Sales Rebound as Buyers Snap Up Deals

      newser  |  Wall Street Journal  |  May 27, 08 7:31 AM CDT

      Foreclosure Sales Rebound as Buyers Snap Up Deals

      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 four months over last year; but prices have dropped 56%. More »

      Tags

      housing market  • foreclosure  • home prices  • home sales  • real estate values  • existing home sales

    • Dismal Day Ends Dismal Week

      newser  |  MarketWatch  |  May 23, 08 3:34 PM CDT

      Dismal Day Ends Dismal Week

      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 500 fell 18.42, closing at 1,375.93. More »

    • Home, Retail Sales Keep Sliding

      newser  |  Bloomberg  |  May 13, 08 11:36 AM CDT

      Home, Retail Sales Keep Sliding

      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. Meanwhile, US retail sales were off in April, mainly because of a big drop in autos. More »

      Tags

      recession  • housing market  • economy  • retail sales  • home prices  • home sales  • housing sector

  • April 2008
  • March 2008

    • Home Prices, Consumer Confidence Nosedive

      newser  |  Bloomberg  |  Mar 25, 08 9:58 AM CDT

      Home Prices, Consumer Confidence Nosedive

      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 consumer confidence as well as expectations for the next 6 months; that metric fell to a level not seen since the Nixon administration. More »

      Tags

      recession  • housing crisis  • housing  • home prices  • consumer confidence  • home sales  • Case Shiller price index

    • Wall Street Sneezes; Heartland Catches Cold

      newser  |  New York Times  |  Mar 21, 08 11:36 AM CDT

      Wall Street Sneezes; Heartland Catches Cold

      The high-profile economic woes plaguing Wall Street and previously hot housing markets are spreading, raising the possibility of the worst recession Americans have faced in years. The New York Times crisscrosses the country, assembling anecdotal evidence—suddenly thrifty brides, unsold construction equipment, sinking earnings at FedEx—that suggests the slowdown could drag into 2009. More »

      Tags

      recession  • credit crisis  • inflation  • economy  • unemployment  • consumer confidence  • home sales

    • Crisis Is More of Confidence Than Credit

      newser  |  New York Times  |  Mar 19, 08 11:39 AM CDT

      Crisis Is More of Confidence Than Credit

      The credit crisis that’s roiled financial markets has its genesis in the housing boom that began in 1998, David Leonhardt writes in the New York Times . The boom led lenders to create new financing options—including subprime loans—as investors saw potential for huge returns. Low interest rates encouraged investors, and homeowners, to stretch themselves too thin—and the seeds of crisis were planted. More »

      Tags

      subprime mortgages  • credit crisis  • Ben Bernanke  • Bear Stearns  • home loans  • home sales

  • February 2008

    • Stocks Flat After Roller Coaster

      newser  |  Wall Street Journal  |  Feb 27, 08 3:21 PM CST

      Stocks Flat After Roller Coaster

      Stocks ended mainly flat after mixed news had indices seesawing throughout today's session, the Wall Street Journal reports. Economic news was bad in general, but Federal Reserve chairman Ben Bernanke and housing regulators cheered the markets with upbeat comments. The Dow ended up 9.36 to 12,694.28, the Nasdaq up 8.79 to 2,353.78, and the S&P down 1.27 to 1,380.02. More »

      Tags

      stock market  • credit crisis  • Ben Bernanke  • subprime crisis  • home sales

    • Stocks Rise Despite Bad Vibes

      newser  |  MarketWatch  |  Feb 7, 08 3:30 PM CST

      Stocks Rise Despite Bad Vibes

      The Dow climbed 46.90 points to 12,247 in the face of bad news, ending a seesaw day up and breaking a three-day slump. Existing homes sales fell 1.5% in December, and tech bellwether Cisco reported weaker third-quarter growth than expected, but prices were low enough to stave off the bears. “There are a lot of deep discounts, and value buyers are out there,” said a trader. More »

      Tags

      Federal Reserve  • S&P 500  • Dow Jones  • home sales  • Cisco

  • December 2007

    • New Home Sales Hit 12-Year Low

      newser  |  Bloomberg  |  Dec 28, 07 11:00 AM CST

      New Home Sales Hit 12-Year Low

      New home sales fell much farther than expected in November, hitting their lowest point since 1995, Bloomberg reports, and the slide only likely to get worse. Sales fell to an annual pace of 647,000, a 9% drop from October’s revised-down 711,000 rate. Prices are falling, but buyers either aren’t interested or can’t get loans because of tighter credit conditions. More »

      Tags

      subprime mortgages  • credit crisis  • housing market  • housing crisis  • home loans  • home sales

    • Squeezed Owners Seek Tax Break as Home Values Drop

      newser  |  New York Times  |  Dec 23, 07 6:45 AM CST

      Squeezed Owners Seek Tax Break as Home Values Drop

      With property values falling across much of the nation, more homeowners are asking for reassessments, looking for a break from property taxes that inflated before the subprime mortgage balloon burst, reports the New York Times . For local governments, especially in areas already suffering from high rates of foreclosure, declining property taxes could cause budget cuts, service reductions and layoffs. More »

      Tags

      subprime mortgages  • foreclosure  • mortgage  • real estate  • home sales  • real estate values

  • November 2007

    • '08 Subprime Fallout: At Least 1.4M Foreclosures

      newser  |  Wall Street Journal  |  Nov 27, 07 11:02 AM CST

      '08 Subprime Fallout: At Least 1.4M Foreclosures

      The subprime mortgage fallout will continue through 2008, with 1.4 million Americans facing foreclosure, municipalities losing more than $6.6 billion in taxes, and housing values plummeting up to 16%, says a US Conference of Mayors report out today. The analysis projects slowed GDP growth and consumer spending and a rebound in 2009, the Journal reports. More »

      Tags

      subprime mortgages  • foreclosure  • home loans  • home sales  • GDP  • economic growth

  • October 2007

    • US New-Home Sales Rebound in September

      newser  |  Wall Street Journal  |  Oct 25, 07 12:25 PM CDT

      US New-Home Sales Rebound in September

      In the face of dismal August numbers, sales of new homes in September increased 4.8%, driven by demand in the western US, the Wall Street Journal reports. Despite the unexpected bump, the updated August figures, which reflect an 11-year low, are fueling worries the economy will remain pinned under the weight of the sagging housing market. More »

      Tags

      US economy  • housing market  • home sales  • housing sales

  • September 2007

    • August Home Price Plunge Is Biggest Since 1970

      newser  |  Bloomberg  |  Sep 27, 07 12:44 PM CDT

      August Home Price Plunge Is Biggest Since 1970

      New-home sales fell 8.3% in August, Bloomberg reports, a greater decline than predicted. Housing prices fell over last year, with the 7.5% decrease the biggest drop since 1970. Sales fell to an annual pace of 795,000, lowest in seven years. And that may not signal the housing market’s nadir: One CEO said the industry won’t bottom out until late 2008. More »

      Tags

      subprime mortgages  • Fannie Mae  • borrowers  • home sales  • default  • housing industry

    • Pending Home Resales Drop to Record Lows

      newser  |  Bloomberg  |  Sep 5, 07 11:35 AM CDT

      Pending Home Resales Drop to Record Lows

      In yet another sign of the troubled housing market infecting the ailing credit market, the number of home resales plunged to a record low in July. The measure, which tracks the number of Americans signing contracts to buy previously owned homes, dropped 12.2% to 89.9, its lowest level since September 2001. Bloomberg had projected a 2.2% drop. More »

      Tags

      US economy  • housing market  • Ben Bernanke  • home sales

  • August 2007

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