Varied Home Markets Now Share a Slump
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Distinctions between local economies are being overridden by a mortgage market that has made it more difficult for many would-be home-buyers to obtain financing.
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Falling prices have created a new twist in the suburban Boston real estate market: More homes are selling for less than their assessed values.
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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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Business & money: Packs blamed for drop in number of four-bedroom homes on market.
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The anemic U.S. housing market has hurt various industries from makers of air conditioners to earth movers, with several manufacturers reporting their top lines have been bruised by the slowdown.
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Financial market turbulence has noticeably hurt housing activity across the U.S. in recent weeks but other sectors of the economy have so far been spared, the Fed said.
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Confusion over home information packs is fuelling a surge in the supply of houses, experts warn.
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There's an anxious face-off between sellers and buyers of homes as expectations of big profits fade
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KB Home announces large loss, and an industry trade group releases data that show falling home sales.
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When the Washington area's housing market boomed at the turn of the century, so did local government spending. Now a cooler market is creating budget gaps in a region that until recently was spared leaner times.
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Offering evidence of a possible shift in the housing market, the Massachusetts Association of Realtors reported yesterday that sales of single-family homes fell for the third straight month in October and that the number of homes and condos on the market is up 7.6 percent from a year ago.
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Price drops and declining sales in the Massachusetts housing market moderated in October, two housing reports showed yesterday, suggesting that the monthslong slump in the real estate market may be nearing its end.
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New-home sales in November dropped 9 percent from the previous month, and were down 34 percent from a year earlier, more dismal figures for an industry facing bloated inventory, declining prices and mortgage woes.
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An Associated Press analysis of new census data provides insight into the reasons for the slumping housing market: Since 1990, homeowners have faced a growing gap between their incomes and the price of their homes.
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Real estate, like politics, is local. In a year when the median price of a single-family home in Massachusetts fell nearly 6 percent -- the biggest drop in a decade -- what you paid depended on where you shopped.
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Growing numbers of people are being squeezed out of the housing market, researchers have concluded.
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Americans are taking substantially less equity out of the value of their homes than a year ago, a sign consumer spending may be set to recede, data compiled by a Federal Reserve economist suggest.