Pending home sales plunge, lay-offs surge
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Pending sales of previously owned homes plunged 12.2 percent in July and planned lay-offs by companies surged 85 percent in August due to turmoil in the subprime mortgage market, independent reports showed on Wednesday.
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The housing market plunged deeper into despair last month, with sales of new homes plummeting to their lowest level in more than 12 years.
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Sales of pre-owned U.S homes fell slightly in July but the inventory of unsold single-family properties soared to the highest in over 15 years as troubles in the subprime mortgage market continued to wreak havoc on the housing sector.
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The pace of sales of pre-owned homes fell slightly in July but the inventory of unsold properties soared to the highest level in over 15 years as troubles in the subprime mortgage market continued to wreak havoc on the housing sector.
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WASHINGTON -- Sales of new homes fell in May for the fourth time in the past five months, providing further evidence of a continued slump in housing.
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Shares plunged in morning trading as a jittery Wall Street sold off on a report showing a large drop in pending home sales.
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Whether you're a home seller, owner or buyer, by this point you've got to be feeling a little rattled. The bad news about the housing market seems never ending: Foreclosures have more than doubled over the past year.
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The housing sector is in a funk, auto sales are weak, and manufacturing jobs are drying up. So why were Friday's employment numbers surprisingly strong?
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KB Home announces large loss, and an industry trade group releases data that show falling home sales.
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U.S. 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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Pending sales of previously owned homes fell a steeper-than-expected 1.5 percent in December, pointing to more dreary conditions for the beleaguered housing market, a real estate trade group report on Thursday showed.
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The housing market took a sharp turn for the worse in September as prices tumbled and sales of previously owned homes fell to a record low, battered by rising foreclosures and tighter lending standards.
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Sales of new homes fell in June by the largest amount in four months while the inventory of unsold homes climbed to a record high, providing further evidence that the once-booming housing sector is slowing.
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Mortgage and shopping blues combine to push stocks lower.
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Pending sales of previously owned  homes fell a steeper-than-expected 1.5 percent in December,  pointing to more dreary conditions for the beleaguered housing  market, a real estate trade group report on Thursday showed.
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A surge in new home sales on the West Coast helped offset a steep drop in the Northeast last month as sales nationwide unexpectedly rose.
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The housing market took a sharp turn  for the worse in September as prices tumbled and sales of  previously owned homes fell to a record low, battered by rising  foreclosures and tighter lending standards.