Housing Market, 2009 | featured news

The transfer, a record sum, was the result of the central bank’s actions to support the fragile housing market.

Home prices fell in November for the first time in seven months, according to a industry report released Tuesday.

The 16 percent decline in November was far larger than the 2 percent expected by economists.

Sales of new homes plunged unexpectedly last month to the lowest level since April, a sign the housing market recovery will be rocky.

Construction of new homes, helped by better weather, rebounded in November following a setback in the previous month.

The number of homes with tentative buyers reached its highest level in three years in October, as Americans took advantage of a credit for first-time homeowners.

That's 30.7% down from the same month last year. Analysts had recently forecast a 1.7% rise in housing starts.

The August data from a home price index suggested that a housing recovery is taking hold.

Sales of previously owned U.S. homes surged to their highest level in more than two years in September, a survey showed on Friday, providing further evidence the housing market and economy were on the mend.

Construction of new homes edged up slightly in September, helped by a rebound in single-family construction. But applications for building permits fell by the largest amount in five months.