US home sales 'see 25-year low'
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Sales of existing US homes fell by 12.8% last year, the biggest decline in 25 years, figures show.
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US sales of previously owned homes probably held at a 6.75 million annual rate last month, down from a record reached earlier this year, economists forecast an industry report today will show.
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WASHINGTON - New-homes sales tumbled in August to their lowest level in seven years, a stark sign the credit crunch is aggravating an already painful housing slump.
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The Massachusetts housing market will remain in a slump, and by the time it hits bottom about a year from now, prices will have dropped 14 percent from the peak in 2005, according to an economic forecast released yesterday.
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The pace of existing home sales in the United States was off slightly in May to a 5.99 million-unit annual rate, the National Association of Realtors said in a report on Monday that showed continued weakness in the housing sector.
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WASHINGTON - Sales of existing homes edged down a less-than-expected 0.1 percent in October as low mortgage rates continued to support a record year, a trade association report showed Tuesday.
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The number of pending US home sales falls by 1.5% in December, as the housing market deteriorates further.
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WASHINGTON -- Sales of new homes plunged by a record amount in 2007 while prices posted the weakest showing in 16 years, demonstrating the troubles builders are facing with a huge backlog of unsold homes.
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Home sales and prices will fall at a faster pace in 2007 than originally expected, a leading U.S. real estate trade association said on Wednesday.
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Home sales in Southern California sank to their lowest in nearly two decades in December as buyers were sidelined or dropped out of the market because they could not obtain mortgages, according to a report released on Tuesday.
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Home ownership in England fell for a second year in 2007, and hit its lowest level since 1998, official figures claim.
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The housing market, in its deepest rut since the early 1990s, is likely to get worse in the near term, economists said.
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Sales hit their lowest rate in over seven years, as tighter credit and rising inventories hurt the housing industry.
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The pace of existing home sales in   the United States fell for a fifth straight month in August and   prices dropped from year-ago levels for the first time in more   than 10 years, a realtors group said on Monday.
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Pending sales of existing U.S. homes hit the lowest level in more than five years in May and factory orders dipped modestly, according to data on Tuesday that suggested the economy was struggling.
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Sales of new US homes tumbled at the sharpest rate in more than a decade in November, the government said yesterday, but a separate report showed the consumer's mood was still buoyant near the end of 2004.
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Pending sales of existing U.S. homes in April unexpectedly fell to its lowest since February 2003, data from a real estate trade group showed on Friday.