Signs of solidity seen for '07 housing sales
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Richard Loughlin Chairman Greater Boston Real Estate Board Last month Richard Loughlin became the 2007 chairman of the Greater Boston Real Estate Board, an organization of real estate professionals. Loughlin, 60, who is also president of the New England region for Coldwell Banker Residential Brokerage, spoke with Globe reporter Kimberly Blanton .
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State and national housing sales hit record highs in 2004, boosted by mortgage rates near historic lows, according to preliminary figures released yesterday, but with rates expected to drift upward, few in the real estate industry expect that pace to be matched in 2005.
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New home sales posted an unexpected increase in September. Analysts, however, viewed the small gain as highly questionable given the severe credit crunch that rocked the housing industry this summer. They predicted further sales declines before the worst housing slump in more than two decades comes to an end.
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The slump, which has seen the median price of a home drop 1.7 percent, could last in into the summer of 2007, experts say.
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Sales of new homes rose to a record high in 2004, the fourth straight annual record. But activity in December barely budged after a big drop the previous month, suggesting the nation's red-hot housing market may finally be cooling.
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U.S. home prices will likely drop for the rest of this year, then rebound in 2007 as the housing supply tightens, the National Association of Realtors said today.
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The number of homes on the market is big, and likely to get much bigger.
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U.S. home sales and prices will fall  further in 2007 than earlier expected, the leading realty trade  association predicted on Wednesday.
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New signs of weakness in the housing market prompted investors to look past a rebound in major retailersâ sales figures.
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Stock index futures pointed to a slightly higher market opening on Monday, with stocks attempting to squeeze out some gains on the last trading day of 2007, but data on existing home sales could limit optimism.
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US home buyers may see a slight rise in mortgage rates if housing finance company Fannie Mae, which is mired in an accounting scandal, slows purchases of bonds backed
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Average U.S. home prices rose 7.73 percent over the 12 months to September 30, but the quarter-to-quarter gain was the lowest since 1998 and indicates a sharp deceleration in house price gains, the U.S. Office of Federal Housing Enterprise Oversight reported Thursday.
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There are signs that some high-end real estate developers are being hit by a slowdown.
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Home prices are not very far below peak levels in most markets, but continued weakness could change that.
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The spring real estate market was a washout. Home sales in Massachusetts tumbled as much as 8 percent in June, and prices also dropped during that key month in the real estate cycle, according to two reports yesterday, virtually ensuring that 2007 is going to be another down year in the industry.
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In real estate, it&#39;s location, location, location. With markets, it&#39;s timing, timing, timing. Asian central banks should consider this most basic of credos and sell some of their massive holdings in US Treasuries.
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The local real estate market is showing signs of slowing down. There are more homes on the market in Greater Boston than at any time during the last five years, some properties -- especially the more expensive ones -- are taking longer to sell, and price reductions are becoming increasingly common. Meanwhile, sales of single-family homes across the state fell ...