Home Prices Are Down, and So Is Confidence
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Prices of homes in 20 major U.S. metropolitan areas fell 4.4 percent for the 12 months through August.
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WASHINGTON - Americans may be disappointed the Federal Reserve's interest rate cut won't translate into lower monthly mortgage payments and a revival of the housing market.
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Don't be shocked, but: New home sales were soft last year.
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New home sales in May fell more than expected while consumer confidence in June hit a 10-month low amid worries about jobs and the business climate, adding to signs of sluggish economic growth this year.
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The serious slump in the housing market and home building may be near a bottom, according to a leading U.S. home builder.
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American consumers and investors became more optimistic in May, while U.S. home prices declined in the first quarter for the first time in 16 years, according to reports published on Tuesday.
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A January decline of 16.6 percent suggests some weakness in the real estate market.
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The economy lost steam in the late summer but not nearly as much as first thought, a hopeful sign the country is weathering the housing slump.
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U.S. new home sales fell in May while consumer confidence hit a 10-month low in June on worries about jobs and the business climate, adding to signs of sluggish economic growth.
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The subprime mortgage mess has created a mixed blessing for potential homebuyers.
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Business & money: Housing market slows as mortgage approvals fall.
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American consumers and investors  became more optimistic in May, while U.S. home prices declined  in the first quarter for the first time in 16 years, according  to reports published on Tuesday.
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As sales of home improvement items fall and consumer confidence weakens, retailers are starting to feel the effects of the housing slump.
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WASHINGTON -- Rates on 30-year mortgages dropped this week to the lowest point in four months, providing some relief for people hoping to refinance their existing mortgages.
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Moderate news on the inflation front and a Labor Department report showing that consumer prices actually fell in July gave comfort to investors who are worried about potential price hikes.
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Investor optimism fell in August to a  new low for the year as investors expressed growing concern  about the slumping real estate market, according to the  UBS/Gallup Index of Investor Optimism released on Monday.
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Confidence among US home builders dropped to a 15-year low this month as sales slowed and profits dropped, according to a private survey released Monday.