Home prices post record annual drop
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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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Sales of existing homes fell in May to the lowest level in four years while the median home price dropped for a record 10th consecutive month.
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WASHINGTON -- Reflecting further housing troubles, sales of existing homes fell in May to the lowest level in four years while the median home price dropped for a record 10th consecutive month.
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Sales of existing homes plunged by a record amount in September as turmoil in mortgage markets added more problems to a housing industry in its worst slump in 16 years.
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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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The Massachusetts housing market will remain in a slump, and by the time it hits bottom about a year from now, prices will have dropped 14 percent from the peak in 2005, according to an economic forecast released yesterday.
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The steep slump in housing intensified at the end of last year, pushing home construction down by the biggest amount in nearly three decades.
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House prices in Britain fell at their steepest pace in nine years in the three months to September,adding to evidence that the property market is cooling and decreasing the possibility
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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 shows.
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US home prices may fall for the first time since 1993 as a record number of homes for sale gives buyers the upper hand in negotiations, the National Association of Realtors said.
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Halifax says price of average home fell 1.1 per cent last month. Bank not expected to act until next year. By Philip Thornton, Economics Correspondent.
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For the year, sales of single-family homes were down by 13 percent, the biggest drop since a 17.7 percent plunge in 1982. The median price for a single-family home dropped to $217,000.
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Home sales slumped to a four-year low in May and prices fell from a year earlier for the 10th straight month, a real estate group said Monday in a report showing no sign of a housing market rebound.
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House prices fell for the third month in a row during January, the Nationwide building society says.
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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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Property prices are falling at rates not seen since the 1990s housing recession, warn surveyors.
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Property prices are falling at rates not seen since the 1990s housing recession, surveyors warn.