Home prices show first annual fall in 11 years
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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 11   years, a U.S. realtors group said on Monday.
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Quarterly figures show that house prices have fallen in Scotland for the first time in seven years.
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The median price of a single-family home declined 1.8 percent to $217,800, the first annual decline since reliable records began in 1968.
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Consumer prices posted a rare decline in August while the battered housing industry saw construction fall to the slowest pace in 12 years.
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Forecasters expect the median price of  U.S. homes to fall between 1 percent and 2 percent this year in  what would be the first such decline since 1950, when federal  agencies began tracking such statistics, the New York Times  reported on Sunday.
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The pace of existing home sales in July fell slightly to a 5.75 million unit annual rate and the supply of unsold single-family homes hit its highest since 1991, the National Association of Realtors said in a report on Monday.
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Record levels of debt and falling home prices may mean Americans will now spend less, save more.
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Forecasters expect the median price of U.S. homes to fall between 1 percent and 2 percent this year in what would be the first such decline since 1950, when federal agencies began tracking such statistics, the New York Times reported on Sunday.
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The number of housing units on which builders began work plunged 13.1 percent in November from the previous month, the biggest monthly drop in nearly 11 years, according to the Commerce Department.
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U.S. home prices plunged by a record 8.4 percent in November, marking two years of slowing returns, according to the Standard & Poorâs/Case-Shiller index.
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New-home sales fell 34.4 percent from a year earlier, the biggest year-over-year drop since January 1991.
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Sales of new homes plunged in August and prices posted their biggest year-on-year drop in nearly 37 years, the U.S. Commerce Department said on Thursday, underlining the depth of problems facing the housing sector.
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Home prices declined a record 6.7 percent in October compared with a year ago, according to a price index.
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The decline in prices of existing single-family homes accelerated in August and fell at their fastest pace since 1991, according to the Standard & Poor's/Case Shiller national home price index.
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New single-family U.S. home sales fell 4.7 percent in December to the lowest rate in nearly 13 years while the median sales price dropped sharply according to a government report on Monday that delivered more grim news for the housing sector.
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Prices for single-family homes fell in more than half of the nationâs biggest metropolitan areas in the last three months of 2006.
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US consumer prices  fell by 0.1% in July, the first fall this year, reducing the chances of a September interest rate rise.