U.S. builders started work on more single-family homes in May and requested the most permits to build homes and apartments in three and a half years. The increase suggests the housing market is slowly recovering even as other areas of the economy have weakened.
Once, Countrywide Financial was the biggest U.S. mortgage lender, and the bloated appraisals it gave on homes were a root cause of the housing bubble. Here's why we're all still paying for Countrywide's bad behavior.
Home prices rose in March from February in most major U.S. cities for the first time in seven months. The increase is the latest evidence of a slow recovery taking shape in the troubled housing market.
For the past few months, reports have repeatedly affirmed that the economy is slowly improving. However, as one recent study highlights, some areas are recovering much faster than others.
Here's some counter-intuitive news: People are buying more home products to fill their smaller abodes. Home furnishings store sales are expected to rise in April, May and June to $23.2 billion, up nearly 8% from a year ago.
With college costs high and rising, more students are putting themselves deeper into debt than ever. But those huge debt loads don't just pressure graduates to find high-paying jobs: They're also making it nearly impossible for many of them to get mortgages.
The National Association of Realtors reported this week that sales of existing homes rose 4.3% in January, their third rise in four months. But there are other housing trends to consider that are much more telling than a modest uptick in sales.
Ben Bernanke says declines in home prices have forced many Americans to cut back sharply on spending warns that the trend could continue to weigh on the economy for years. The Federal Reserve chairman drew the connection between home values and consumer spending, which fuels 70 percent of economic activity, on Friday during a speech to the National Association of Home Builders in Orlando.
U.S. home prices fell for a third straight month in nearly all cities tracked by a major index. The declines show that most homeowners are not reaping the benefits from some signs of an improving housing market. Prices dropped in November from October in 19 of the 20 cities tracked, according to the Standard & Poor's/Case-Shiller home-price index released Tuesday.
Fewer people bought new homes in December, making 2011 the worst sales year on record. The Commerce Department said Thursday new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.
The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday. A draft settlement between the banks and U.S. states has been sent to state officials for review.
Home sales rose in December to the highest pace in nearly a year. The gain coincides with other signs that show the troubled housing market improved at the end of last year. Still, sales remain depressed and ended 2011 well below healthy levels.
U.S. homebuilders are growing less pessimistic about the housing market, despite tighter lending standards that have slowed home sales. The National Association of Home Builders/Wells Fargo builder sentiment index rose four points to 25 in January. That's the highest level since June 2007. It's just the third time the index has been at 20 or above in two years.
The number of Americans who signed contracts to buy homes in November rose to the highest level in a year and a half. Normally, such a gain would suggest a turnaround for the depressed housing market. But a growing number of buyers are canceling their contracts at the last minute, making it a less reliable gauge.
U.S. home prices fell in most major cities for the second straight month, further evidence that the housing recovery will be bumpy and weigh on the broader economy in 2012. The Standard & Poor's/Case-Shiller index released Tuesday showed prices dropped in October from September in 19 of the 20 cities tracked.