The National Association of Realtors said Monday that sales of existing homes fell 6.1 percent to a seasonally adjusted annual rate of 4.93 million. The combination of higher home prices and relatively stagnant incomes has reduced affordability and restrained buying activity. Lower affordability, resulting from tight credit, rising home prices and essentially flat incomes, held back sales for the rest of the year. Analysts say sales of roughly 5.5 million existing homes are common in a healthy real estate market. A sudden blast of cold weather and snowstorms at the end of November might have cut into sales, noted Ian Shepherdson, chief economist at Pantheon Macroeconomic. Rates have fallen as investors are plowing their money into 10-year U.S.
Similar Stories to Us Home Sales Hit Slowest Pace In 6 Months In Nov. on Bing News
By JOSH BOAK, AP Economics Writer, San Antonio Express-News: World
Mon, 12/22/2014 - 9:13am
BING NEWS:
- Weekly Commentary: Instability
Gold and silver have recently made powerful upside moves. Commodities generally show signs of life. Having taken a backseat during the financial asset melt-up, hard assets are beginning to show their ...
05/3/2024 - 10:00 pm | View Link - Q1 2024 Haverty Furniture Companies Inc Earnings Call
The company has been very clever about harnessing technology to help improve performance.
05/2/2024 - 5:16 pm | View Link - Gazprom swings to £5bn loss in blow to Putin
Kremlin-owned natural gas giant Gazprom has plunged to its worst loss in at least 25 years in a blow to Vladimir Putin’s war economy.
05/2/2024 - 6:00 am | View Link - Home prices hit new all-time high ‘in the face of economic uncertainty’: Case-Shiller
“Home prices have pushed higher in the face of economic uncertainty,” he added. “Enthusiasm for potential Fed cuts and lower mortgage rates appears to have supported buyer behavior, driving the 10- ...
04/30/2024 - 2:57 am | View Link - Stagflation fears just hit Wall Street. Now for the next crucial report on prices
Stocks tumbled as the slowdown in GDP, coupled with stubbornly high inflation data, stoked fears of stagflation. That’s when the economy sees weak growth while inflation runs high. In a stagflationary ...
04/26/2024 - 12:34 am | View Link - More
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more