Realtors lower forecast for home sales
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U.S. home sales will be a good deal  weaker this year than earlier thought as potential buyers  remain on the sidelines waiting for better deals, a national  real estate group said on Thursday.
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Declining land and home values prompted home builder Hovnanian Enterprises Inc  to report results far worse than Wall Street expectations and one the important spring selling season may offer little relief.
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Wall Street stocks were set for a lower start on Monday, as markets awaited a report expected to show sales of existing homes dropped last month to their slowest pace in five years.
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Pending sales of existing U.S. homes  in May unexpectedly fell to their lowest level in more than  5-1/2 years, data from a real estate trade group showed on  Tuesday in a sign of continued weakness in the housing sector.
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The pace of existing home sales in the United States in April fell to their lowest since June 2003 while inventories swelled, the National Association of Realtors said in a report on Friday that showed more weakness than analysts had expected.
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Sales of new homes fell more than expected in July, to their lowest pace since December, as higher mortgage rates cooled the housing market.
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The leading realty trade group on Wednesday cut its 2007 forecast for U.S. home sales and prices, saying both would slide this year with sales hitting a five-year low.
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Sales of existing homes are expected to decline 8.6 percent, to 6.47 million, for 2006, and shrink another 1 percent, to 6.40 million units, next year.
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U.S. home sales will be a good deal   weaker this year than earlier thought as potential buyers   remain on the sidelines waiting for better deals, a national   real estate group said on Thursday.
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The pace of existing home sales in  the United States in April fell to their lowest since June 2003  while inventories swelled, the National Association of Realtors  said in a report on Friday that showed more weakness than  analysts had expected.
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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 -- Pending U.S. home sales dipped in November, a trade group for real estate agents said Tuesday, but it expects the sales pace to pick up significantly in the second half of 2008.
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Sales of new homes hit a 12-year low, falling short of even the most skeptical Wall Street estimates.
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Pending sales of existing U.S. homes fell 1.7 percent in October but held above the low hit in July, suggesting the housing market is stabilizing, a real estate trade association 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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The drop-off is likely to hurt businesses that serve the housing industry, which economists donât expect to bottom out until the middle of the year.
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Pending sales of existing U.S. homes in May unexpectedly fell to their lowest level in more than 5-1/2 years, data from a real estate trade group showed on Tuesday in a sign of continued weakness in the housing sector.