US housing slump hits Wolseley
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Building and plumbing firm Wolseley sees profits fall after it is hit by the downturn in the US housing market.
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Concern about the US housing market returns as a key survey shows sales have fallen to a near five-year low.
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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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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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Housing starts fell 3.7 percent in  November, with construction of single-family homes sliding to  the lowest level in more than 16 years as builders scrambled to  cope with a deep drop in sales.
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The housing market plunged deeper into despair last month, with sales of new homes plummeting to their lowest level in more than 12 years.
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Sales of new U.S. homes tumbled at the sharpest rate in more than a decade in November, the government said on Thursday, but a separate report showed  consumers' mood still buoyant as a close to 2004 neared.
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U.S. home construction fell last  month for the first time since January, as builders struggled  with a glut of unsold homes, but permits for future  construction rose, offering mixed signals on the housing  outlook.
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Home builders slammed on the brakes in August as starts on new homes sank to their lowest level in more than three years, and a drop in permits signaled more weakness ahead for the real estate market.
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U.S. housing starts plunged to a   more than three-year low in August, while falling new vehicle   costs kept producer prices unexpectedly weak, the government   said on Tuesday, bolstering views the economy is cooling.
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U.S. mortgage applications fell for  the first time in four weeks even as interest rates dropped to  a six-month low, an industry trade group said on Wednesday,  providing further evidence the country's housing market slump  is deepening.
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Homebuilder sentiment slid in July to  its lowest since January 1991 as fallout from the housing slump  and subprime mortgage crisis caused a glut of new homes, the  National Association of Home Builders said on Tuesday.
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Housing starts fell 3.7 percent in November, with construction of single-family homes sliding to the lowest level in more than 16 years as builders scrambled to cope with a deep drop in sales.
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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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Business & money: Figures show sharpest fall for almost two years as trouble in the US housing market starts to spread and weigh down on consumer spending.
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Prices for single-family homes fell in more than half of the nationâs biggest metropolitan areas in the last three months of 2006.
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Construction of new homes fell in May as the nationâs home builders were battered by the crisis in subprime lending and rising mortgage rates.