Pending sales of pricey homes hit 6-year low
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WASHINGTON - A near-record low for an index that forecasts near-term home sales suggests borrowers in expensive areas are struggling to finalize purchases amid mortgage market woes.
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New single-family home sales fell  4.7 percent in December to its lowest rate in nearly 13 years  while the median sales price dropped sharply and the inventory  of unsold homes climbed, according to a government report on  Monday that delivered more grim news for the battered housing  sector.
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The meltdown in the mortgage market caused the biggest drop on record in August for pending home sales, taking the index down to the lowest level since the month that included the Sept. 11, 2001 terrorist attack.
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Sales of new homes were unexpectedly weak last month, although they climbed off an 11-year low, and orders for long-lasting goods fell, according to data on Thursday that underscored the economy's weakness.
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WASHINGTON -- Sales of existing homes, depressed by turmoil in credit markets, fell for a sixth straight month in August, pushing activity to the lowest point in five years.
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Pending sales of existing homes fell 2.6 percent in November from an October level that was revised sharply upwards and sales should hold steady over the next few months, a real estate trade group said Tuesday.
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House hunters shied away from buying in July, driving down sales of previously owned homes to a 2 1/2-year low. The inventory of unsold homes climbed to a record high.
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The housing market, in its deepest rut since the early 1990s, showed little sign of stabilization in November, and economists expect conditions to worsen in the near term.
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Business & money: Numbers of buyers unable to purchase first home slump to the lowest level since 1980
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Business & money: Housing market still on the slide, falling as much as 6% in six months, as petrol prices spiral.
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Sales of new homes rose slightly in September but remained near their lowest levels ever. Orders for durable goods declined, but a crucial measure of business spending rose.
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Long-term mortgage rates fell again this week to the lowest level in six months, Freddie Mac reported Thursday.
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Sales of new U.S. homes again defied  predictions of a slowdown in May and rose 4.6 percent, but  median sales prices fell and the U.S. Northeast experienced its  slowest sales tempo in nearly two years, according to a  government report on Monday.
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Business & money: Sixth successive month of price falls, and mortgage lending at two-year low despite rate cuts
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The US housing market remains sluggish, with sales of existing homes at their lowest level in four years.
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New single-family U.S. home sales fell 4.7 percent in December to the lowest rate in nearly 13 years while the median sales price dropped sharply according to a government report on Monday that delivered more grim news for the housing sector.
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Pending sales of previously owned homes fell a steeper-than-expected 1.5 percent in December, pointing to more dreary conditions for the beleaguered housing market, a real estate trade group report on Thursday showed.