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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The number of U.S homeowners that thought their homes increased in value has dropped sharply over the last two and a half years, according to a Reuters/University of Michigan survey published on Friday.
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Existing home sales posted their largest gain in two years last month, a sign the housing market may be climbing out of a slump, but orders for big-ticket factory goods fell as businesses showed wariness about the economy's health.
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Business & money: Housing market slows as mortgage approvals fall.
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The bigger-than-expected decline in existing home sales came amid continuing turmoil in mortgage markets.
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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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Business & money: Â· US economy cools with housing market problemsÂ· Bank rates expected to go in opposite directions
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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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The slump in U.S. housing stocks to new four-year lows is hurting some well-known investors who recently added home builders and housing-related stocks such as KB Home  and Pulte Homes Inc  to their positions.
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Not everyone has suffered from the current housing slump. Exceptions include entrepreneurs with deep experience in real estate and those who have carved out a special niche.
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The slump in home prices in the Washington region is deepening and spreading, according to data compiled for The Washington Post that shows that for the first time, every local county saw a decrease in prices for a significant period of last year.
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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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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 local real estate market is showing signs of slowing down. There are more homes on the market in Greater Boston than at any time during the last five years, some properties -- especially the more expensive ones -- are taking longer to sell, and price reductions are becoming increasingly common. Meanwhile, sales of single-family homes across the state fell ...
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Sales of new US homes fall 23%, in the latest indication of the downturn in the housing market.
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Signs of a housing slowdown are now beginning to surface across the UK as a fall in the number of new buyers has now created a surplus of properties, suggests the latest Hometrack house price survey.
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With prices falling, home sellers might have to accept lower prices than they had hoped for, while buyers might find it tougher to qualify for a mortgage.