US home sales slump to 12-year low; glimmers of hope emerging

Existing home sales drop 1.5% in December Sales fall 17.8% in 2022, sharpest annual decline since 2008 Median house price rises 2.3% from year ago WASHINGTON, Jan 20 (Reuters) – US existing home sales plunged to a 12-year low in December, but declining mortgage rates raised cautious optimism that the embattled housing market could be … Read more

Double-digit US home price growth streak skids to an end

Dec 27 (Reuters) – Annual price growth in the increasingly fragile US housing market slid into the single digits in October for the first time in about two years when mortgage rates that month surged above 7% and further stifled demand, a pair of closely watched surveys shown on Tuesday. The S&P CoreLogic Case Shiller … Read more

US existing-home sales to slide to 11-year low in 2023, NAR says

Dec 13 (Reuters) – Sales of previously owned US homes will fall for a second year in 2023 to their lowest annual total since 2012 when the housing market was still in a slow recovery from the sub-prime mortgage crisis, but sales prices should hold up, the National Association of Realtors said on Tuesday. Existing-home … Read more

UK housing market seen facing further ‘mini-budget’ fallout

LONDON, Nov 28 (Reuters) – British property market activity stalled in October and house price growth slowed to its lowest quarterly level since February 2020 due to a disastrous “mini-budget” and a cost-of-living crisis, a survey released on Monday shown. Zoopla’s house price index said the October slowdown was in part due to the economic … Read more

US labor market remains tight despite technology sector layoffs

Weekly jobless claims fell 4,000 to 222,000 Continuing claims increase 13,000 to 1,507 million Housing starts drop 4.2% in October; permits fall 2.4% WASHINGTON, Nov 17 (Reuters) – The number of Americans filing new claims for unemployment benefits fell last week, showing widespread layoffs remain low despite a surge in technology-sector job cuts that has … Read more

Inflation worries hurt US consumer confidence; house prices decelerating

Consumer confidence index falls 5.3 points to 102.5 Labor market differential drops to 32.5 from 38.1 House price gains slow further in August WASHINGTON, Oct 25 (Reuters) – US consumer confidence ebbed in October after two straight monthly increases amid rising concerns about inflation and a possible recession next year, but households remained keen to … Read more

US existing home sales slide again in September; jobless claims fall

Oct 20 (Reuters) – Sales of existing US homes slipped for an eighth straight month in September and will likely fall further in the months ahead as the housing market continues to stand out as the economic sector absorbing the hardest hit from the Federal Reserve’s aggressive interest rate hikes. The broadly weak report from … Read more

UK housing market shows strains from “mini-budget”: Rightmove

LONDON, Oct 17 (Reuters) – Britain’s housing market lost momentum this month after Prime Minister Liz Truss’s economic plans upset financial markets and triggered a repricing of the mortgage market, data from property website Rightmove showed on Monday. Asking prices for homes coming to the market rose by 7.8% year-on-year in October, the smallest increase … Read more

Curtains drawn on runaway rise in global house prices: Reuters poll

A general view of apartments under construction near Wandsworth Bridge in London, Britain, January 10, 2022. REUTERS/Kevin Coombs Register now for FREE unlimited access to Reuters.com Register BENGALURU, Sept 6 (Reuters) – A runaway surge in global house prices is drawing to a close as interest rates rise along with the cost of living, according … Read more

US new home sales tumble to 6-1/2-year low; prices still high

New single-family home sales drop 12.6% in July Median house price up 8.2% to $439,400 from a year ago Private sector activity contracts again in August WASHINGTON, Aug 23 (Reuters) – Sales of new US single-family homes plunged to a 6-1/2-year low in July as persistently high mortgage rates and house prices further eroded affordability. … Read more