Housing slump far from over
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WASHINGTON - The current housing slump, which began in late 2005, probably has another year to go before things turn around. Before it is over, home prices - which had soared during the boom years - will probably have fallen by the largest amount of any downturn in the post World War II period.
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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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The predicted bottoming-out of the housing market appears, for now, to still be just a prediction.
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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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Sales of previously owned homes inched up 0.4 percent  but that did not change the overall bleak picture for a housing industry that has been suffering through a painful slump.
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Prices of existing U.S. single-family  homes recorded their biggest annual drop in October, suggesting  the housing slump is far from over, a national home price gauge  released on Wednesday showed.
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While the housing downturn has depressed once-thriving real estate markets around the nation, far-flung suburbs of major cities have suffered the most abrupt market correction.
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US home prices at record levels don&#39;t signal a national price &#39;&#39;bubble&#39;&#39; because low mortgage rates and prospects for improved job growth will help sustain demand, housing-industry economists said.
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The housing market has peaked but is not heading into the abyss, analysts said today, as figures showed property price falls for the fourth consecutive month.
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WASHINGTON - Sales of existing homes plunged a record amount in September while median home prices dropped by the largest amount in nearly a year, reflecting deepening problems in the troubled housing market.
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Pending home sales fall, but also prove opportunity for long-term investors.
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A demand for workers outpaced big losses from the unwinding of the housing boom and a slowing economy.
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While the housing downturn has  depressed once-thriving real estate markets around the nation,  far-flung suburbs of major cities have suffered the most abrupt  market correction.
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The housing market, in its deepest rut since the early 1990s, showed little sign of stabilization in November, and economists expect conditions to worsen in the near term.
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Sales of previously owned homes inched up 0.4 percent but that did not change the overall bleak picture for a housing industry that has been suffering through a painful slump.
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The U.S. economy has so far managed to withstand the housing slump, and one reason is that construction crews have found other things to do.
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The prolonged slump in housing pushed new home construction in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go.