August home starts hit 12-year lows
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Home construction starts fell 2.6  percent in August to their lowest level in more than 12 years  while building permit activity, a sign of future construction  plans, also dropped to a low not seen since mid-1995, a  government report on Wednesday showed.
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Business & money: Figures show sharpest fall for almost two years as trouble in the US housing market starts to spread and weigh down on consumer spending.
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Home sales slowed and a key measure of prices fell for the first time in 11 years last month, spurred on by the biggest glut of new homes on the market in more than a decade, an industry group said today. The National Association of Realtors report on existing home sales showed that the median home price in August was $225,000, down 1.7 percent from a year earlier.
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U.S. housing starts fell 3.7 percent in November, with construction of single-family homes sliding to the lowest level in more than 16 years as builders scrambled to cope with a deep drop in sales.
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The retailer's disappointing August comps create a buying opportunity.
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WASHINGTON -- Housing construction plunged in August, falling to the lowest level in more than three years as the industry showed further signs of a dramatic slowdown.
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Investor confidence in the economy deteriorated in August to its lowest level in a year, as the growing housing turmoil compounded worries over high energy prices, a survey showed on Monday.
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Business & money: Signs that four increases since August are starting to bite as housing market cools.
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Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector.
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WASHINGTON -- Retail sales in August posted the weakest showing in two months as worried consumers curbed their spending habits.
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Sales of existing US homes fell by 12.8% last year, the biggest decline in 25 years, figures show.
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Resales of U.S. homes fell 2.7  percent in August, decreasing more than expected as mortgage  interest rates picked up in the early summer, a trade  association report showed on Friday.
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Housing starts unexpectedly plummeted 13.1% last month, biggest dive in nearly 11 years, as groundbreaking fell sharply across the nation, a government report said Thursday.
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The chances of another rise in interest rates faded today as mortgage lending slowed to its lowest level for a year during August.
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Business & money: Numbers of buyers unable to purchase first home slump to the lowest level since 1980
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The explosion in home foreclosures and a tightening in mortgage lending dragged down real estate prices in Massachusetts in August, a real estate research and publishing firm reported yesterday.
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Sales of new homes, after falling for three months, rose in August. But the gain was expected to be temporary as the battered housing industry struggles with a near-record level of unsold homes.