U.S. home sales, prices to slip more this year: NAR
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U.S. home sales and prices will fall  further in 2007 than earlier expected, the leading realty trade  association predicted on Wednesday.
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The pace of existing home sales in the United States was off slightly in May to a 5.99 million-unit annual rate, the National Association of Realtors said in a report on Monday that showed continued weakness in the housing sector.
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House prices across the nation declined by 3.2 percent in the second quarter from a year earlier, suggesting the housing downturn has deepened, according to the S&P/Case-Shiller U.S. National Home Price Index.
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The median price of an American single-family home fell in 2007 for the first time in at least four decades, according to the National Association of Realtors.
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The slump, which has seen the median price of a home drop 1.7 percent, could last in into the summer of 2007, experts say.
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Home builders and financial issues,  the biggest casualties of the subprime lending meltdown, were  hit again by tax-motivated selling in recent weeks but could  rebound a bit early in the new year, money managers said on  Monday.
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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 more   than 10 years, a realtors group said on Monday.
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The pace of existing home sales in the United States fell in April to a 5.99 million-unit annual rate while inventories swelled, the National Association of Realtors said in a report on Friday that showed more weakness than analysts had expected.
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U.S. home sales should drop more  than 7 percent in 2005 but still post the second-strongest year  on record thanks to low mortgage rates and a pickup in jobs,  Fannie Mae economists said on Friday.
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Investor's Business Daily - U.S. home prices declined 1.4% in Q1 compared with Q1 &#39;06, the first year-over-year drop since 1991, according to the S&amp;P/Case-Shiller index. It could take years for housing prices to rebound, said David Seiders, chief economist for the National Association of Home Builders. He predicted that new-home construction won&#39;t return to last year&#39;s level for at least 4 years.
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Average U.S. home prices rose 7.73 percent over the 12 months to September 30, but the quarter-to-quarter gain was the lowest since 1998 and indicates a sharp deceleration in house price gains, the U.S. Office of Federal Housing Enterprise Oversight reported Thursday.
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Pending home sales dipped in November, a trade group for real estate agents said, but the association expects sales to pick up in the second half of 2008.
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Pending sales of existing U.S. homes  slipped in November but were much stronger than previously  thought in October, according to a report on Tuesday that  offered mixed news on the battered U.S. housing sector.
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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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The number of new US homes sold in October fell, but prices rose reversing September's sharp decline, official data showed.
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U.S. home sales and prices will fall further in 2007 than earlier expected, the leading realty trade association predicted on Wednesday.
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Sales of existing US homes fell by 12.8% last year, the biggest decline in 25 years, figures show.