No housing expert has a crystal ball, but Svenja Gudell, recently appointed chief economist for the housing site Zillow.com, has looked at enough data to make a pretty good guess.
Washington (AFP) — U.S. pending home sales rebounded last month to their highest levels in nearly a year, the National Association of Realtors said Thursday, in report providing further evidence of a steadying housing market. The NAR’s pending home sales index surged 3.3 percent in July to 105.9, its highest level since August 2013. The […]
Washington (AFP) — Price gains in the U.S. housing market slowed further in June as pent-up buying pressure eases, the S&P/Case-Shiller index showed Tuesday. Home prices continued to rise, but the 20-city price index rose at an annual rate of 8.1 percent in June, down from 9.3 percent in May and 10.8 percent in April. […]
Washington (AFP) — Sales of existing U.S. homes rose in July to their fastest pace in almost a year amid building momentum in the housing market, the National Association of Realtors said Thursday. Sales of existing homes, the largest part of the market, rose 2.4 percent to an annual rate of 5.15 million units in […]
By Jim Puzzanghera, Los Angeles Times WASHINGTON — The economy stumbled badly during the severe winter, much more than first estimated, according to a government report, and stalled a recovery that appeared poised to take off this year. Economists, however, see the quarterly drop more as a delay in the nation’s long revival from the […]
By Andrew Khouri, Los Angeles Times New home construction fell sharply in January, as severe weather across much of the country helped freeze development. Housing starts tumbled 16 percent from December to a seasonally adjusted annual rate of 880,000 last month, the Commerce Department said Wednesday. Last month’s level was 2 percent lower than in […]
NEW YORK (AP) — The government on Friday sued 17 financial firms, including the largest U.S. banks, for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed. Among those targeted by the lawsuits were Bank of America Corp., Citigroup Inc., JP Morgan Chase […]
The Obama administration knows that broad action to strengthen the housing market could both help homeowners and improve his chances of reelection. Even though Congress has resisted further stimulus programs, a refinancing program could have a large impact without necessarily requiring Congressional action. As The New York Times reports: One proposal would allow millions of […]