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Housing

AP News | Equities.com |

Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units, the Commerce Department said Monday, as the housing market’s hot summer buying season cooled.

The Commerce Department said Monday that despite the modest decrease, sales of new homes are up 32.1% from a year earlier. However, the pandemic may start to weigh on the market as the colder winter months arrive and with coronavirus c...


Reuters | Equities.com |

U.S. single-family homebuilding raced to a more than 13-year high in September, cementing the housing market’s status as the star of the economic recovery amid record-low mortgage rates and a migration to the suburbs and low-density areas in search of more room for home offices and schooling.

The report from the Commerce Department on Tuesday also showed building permits and housing completions scaling levels last seen in 2007...


AP News | Equities.com |

Demand for new homes continues to surge despite an ongoing pandemic and lingering anxiety about the U.S. economy. The pace of sales have now reached levels last seen before the Great Recession in 2006.

Sales of new homes in August rose by a very strong 4.8% to a seasonally-adjusted annual rate of 1.01 million units, the U.S. Department of Commerce reported Thursday. The jump followed a new home sales spike in July of 13.9%.

The ra...


AP News | Equities.com |

Sales of existing homes rose 2.4% in August to its highest level since 2006 as the housing market recovers from a widespread shutdown in the spring brought on by the coronavirus outbreak.

The National Association of Realtors said Tuesday that sales rose to a seasonally adjusted annual rate of 6 million homes sold last month. Sales are up 10.5% from a year ago and back to pre-COVID-19 levels of early 2020.

It’s the the thi...


Reuters | Equities.com |

Contracts to buy U.S. previously owned homes increased for a third straight month in July as the housing market continues to outperform the broader economy, which has been hammered by the COVID-19 pandemic.

The National Association of Realtors said on Thursday its Pending Home Sales Index, based on contracts signed last month, rose 5.9% to 122.1 last month. Contracts increased in all four regions last month.

Economists polled by Reuters had forecast pending home contracts, which become sales after a month or two, gaining 3% in July. Pending home sales surged 15.5% from a year ago.


AP News | Equities.com |

U.S. home prices grew more slowly in May, but continued to show resilience in the face of the coronavirus outbreak.

The S&P CoreLogic Case-Shiller 20-city home price index rose 3.7% in from a year earlier. That’s a drop from the 3.9% increase in April and it was a smaller gain than economists had expected. Still, home prices have risen steadily despite the pandemic and lockdowns that have badly damaged the American economy.

Phoen...


Reuters | Equities.com |

WASHINGTON (Reuters) - Contracts to buy U.S. previously owned homes rebounded by the most on record in May, suggesting the housing market was starting to turn around after being hammered by the COVID-19 pandemic along with the rest of the economy. Other data on Monday showed an improvement in manufacturing activity in Texas in June after three months of record or near-record declines in output. But surging infections of the respiratory illness in many regions, including t...


AP News | Equities.com |

Stocks shrugged off a wobbly start to finish solidly higher on Wall Street Monday, as the market clawed back half its losses from last week. The S&P 500 rose 1.5% after having been down 0.3%. The market rallied after a much healthier-than-expected report on the housing market put investors in a buying mood. Technology, industrial and communications stocks accounted for much of the market’s broad gains. European stocks also closed higher. Treasury yields were mixed and oil prices rose. Gains for Boeing and Apple in particular helped to lift Wall Street indexes. Boeing jumped 14.4%, its best day in more than two months. The company’s troubled 737 Max jet looks set to begin test flights soon. Apple added 2.3% as customers keep buying its products regardless of whether they’re quarantined.


AP News | Equities.com |

WASHINGTON (AP) — Existing home sales in the U.S. plunged 9.7% in May. It was the third straight monthly decline and further evidence of the harm the virus pandemic has done to the housing market.The National Association of Realtors said Monday that the monthly decline pushed sales down to a seasonally adjusted annual rate of 3.91 million, the slowest pace since a home buyers tax credit expired in October 2010.Sales fell in all regions of the country, with the biggest decline coming in the Nor...