Done Cheering for Home Sales? Here's What's Really Going On
The housing market is improving, but there are still some troubling signs out there. Here's what's happening in local markets around the country.
housing market recovery
Amazon Inks $600 Million Deal with CIA for Cloud Computing
Amazon has reportedly won a $600 million dollar, 10-year contract to supply cloud computing services to the CIA. The online retailer will help the spy agency build a private cloud infrastructure to keep up with emerging technologies.
Home Prices Posted Best Gain in 7 Years in January
U.S. home prices jumped in January, a sign the housing market is gaining momentum as it nears the spring selling season. Home prices rose 9.7 percent in January from a year ago, according to data released Tuesday by CoreLogic. That's up from an 8.3 percent increase in December and the biggest annual gain since April 2006.
Dow Surges a 2nd Day to a New 5-Year High, Closes in on Record
Stocks are closing sharply higher for a second day as evidence mounts that the housing market is making a comeback. The Dow Jones industrial average jumped 175 points to 14,075, its highest close of the year. It's up nearly 300 points over the past two days, putting it within 100 points of its record high reached in October 2007.
Home Prices Post Healthy Gains in December
U.S. home prices rose at a healthy pace in December compared with a year ago, driven higher by rising sales and a smaller supply of available homes. The Standard & Poor's/Case-Shiller 20-city home price index rose 6.8 percent year over year, up from a 5.5 percent annual gain in November.
Midday Market Minute: Lowe's 4Q Net Income Tops Expectations
Home improvement retailer Lowe's Cos. credits cleanup efforts after Superstorm Sandy and its new pricing strategy for fourth-quarter earnings that surpassed Wall Street expectations, a sign that people are beginning to feel better about spending money on their homes as the housing market slowly recovers.
If Fed Ends Quantitative Easing Now, It'll Hurt More Than Housing
Just as we hear that previously occupied home sales hit their second-highest level in three years, we also hear that the Federal Reserve is having second thoughts on its latest round of quantitative easing, also known as QE3.
U.S. Home Sales Rise to 2nd-Highest Pace in 3 Years
U.S. sales of previously occupied homes rose in January to the second-highest level in three years, a sign the housing market is maintaining its recovery and helping to bolster the economy. The National Association of Realtors said Thursday that sales rose 0.4 percent in January compared with December.
Late-Payment Rate on U.S. Mortgages Hits 4-Year Low
Homeowners who took on mortgages well after the housing bubble burst are doing a better job in keeping up with payments, a trend that has helped push the national rate of late payments on home loans to the lowest level in four years.
Home Prices Rose in December by Most Since May 2006
U.S. home prices rose 8.3 percent in December compared with a year earlier, according to data Tuesday from CoreLogic, a real estate data provider. That is the biggest annual gain since May 2006. Prices rose last year in 46 of 50 states.
Consumer Confidence Plunges as Payroll Tax Holiday Ends
U.S. consumer confidence plunged in January to its lowest level in more than a year, reflecting the cut to take-home pay nearly all working Americans were hit with after Washington allowed a temporary Social Security payroll tax holiday to expire.
U.S. New-Home Sales Fell in Dec., Sales for Year Up
The housing market is back, but how strong will it be this year? New home sales were weaker than expected in December, down nearly eight percent from a year earlier. But the housing recovery for all of 2012 was surprisingly strong after the collapse that started four years earlier.
December Housing Starts: Home Construction Hits Highest Level Since 2008
U.S. builders started work on homes in December at the fastest pace since the summer of 2008 and finished 2012 as their best year for residential construction since the early stages of the housing crisis.
U.S. Pending Home Sales Rise to Highest in 2.5 Years
A measure of Americans who signed contracts to buy homes increased last month to its highest level in two and a half years, the latest sign of improvement in the once-battered housing market. The National Association of Realtors said Friday that its seasonally adjusted pending home sales index rose 1.7 percent in November from October to 106.4.
Home Prices Rise in October by 6.3%, the Most in 6 Years
U.S. home prices rose 6.3 percent in October compared with a year ago, the largest yearly gain since July 2006. The jump adds to signs of a comeback in the housing market. But month-over-month, prices fell 0.2 percent in October from September, reflecting the end of the summer home-buying season.