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Home Sales Hit Slowest Pace in 5 Years

Sunday, 26 August 2007 20:24 Zenwealth Admin
Monday August 27, 11:04 am ET
By Martin Crutsinger, AP Economics Writer
 

Existing Home Sales Drop in July to Slowest Pace in Nearly 5 Years
WASHINGTON (AP) -- Sales of existing homes dropped for a fifth straight month in July, falling to the slowest pace in nearly five years, while home prices fell for a record 12th consecutive month.

 

The National Association of Realtors reported that sales of existing homes dipped by 0.2 percent last month to a seasonally adjusted annual rate of 5.75 million units.

 

Last Updated on Sunday, 26 August 2007 20:24 Read more...
 

Nightmare on Elm Street

Tuesday, 26 September 2006 01:16 Zenwealth Admin

Nightmare On Elm Street
Carrie Coolidge 09.21.06, 5:35 PM ET

 

Home prices are declining, and some adjustable rate mortgages have reset due to higher interest rates. This can be a deadly combination of forces for homeowners around the country, as evidenced by the number of homes being foreclosed upon by lenders--a statistic that is increasing in record numbers.

According to RealtyTrac, foreclosures ramped up significantly in August with more than 115,000 properties nationwide entering some stage of foreclosure. This could be the beginning of an alarming trend, as there were 24% more foreclosures in August than there were in July and nearly 53% more than there were in August of 2005. Currently, there is a national foreclosure rate of one new foreclosure filing for every 1,003 households.

Read more...
 

Home prices: 1st drop in 11 years

Monday, 25 September 2006 05:13 Zenwealth Admin
Home prices: 1st drop in 11 years
Sales slow, prices hit by second biggest year-over-year drop on record; surge of homes for sale seen keeping prices weak.
By This e-mail address is being protected from spambots. You need JavaScript enabled to view it , CNNMoney.com senior writer
September 25 2006: 1:41 PM EDT

NEW YORK (CNNMoney.com) -- Home sales slowed and a key measure of prices fell for the first time in 11 years last month, spurred by the biggest glut of new homes on the market in more than a decade, an industry group said Monday.

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.

Last Updated on Monday, 25 September 2006 05:15 Read more...
 
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