AP - WASHINGTON - Sales of new homes plunged in March to the slowest pace in 16 1/2 years as a two-year housing downturn extended into the start of another spring sales season. The median price of a new home in March compared to a year ago fell at the fastest clip in 38 years.
Sales […]

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A tidal wave of unsold properties is threatening to crash over the housing market this winter, potentially causing a washout of prices.
The wave has been building for several months as the number of properties being listed for sale has remained relatively constant but the number being sold has fallen dramatically.
Unfortunately the wave does not appear […]

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The US housing market has slumped to an almost 30-year low as the problems that began with the collapse of the sub-prime mortgage market continue to spread.
The number of new houses remaining unsold and on house builders’ books rose to 11 months worth of normal supply, its highest level since September 1981.
The figures, from the […]

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BusinessWeek Online - The suburban landscape has been marred by foreclosures and half-built communities abandoned in the subprime aftermath. But James Howard Kunstler, author of a dozen books, including The Geography of Nowhere: The Rise and Decline of America’s Man-Made Landscape, thinks there’s a bigger threat to those far-flung neighborhoods: the scarcity of oil. As […]

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Reuters - New single-family U.S. home sales fell by an unexpectedly steep 8.5 percent in March and the median sales prices versus a year ago dropped by the largest amount since 1970, a government report on Thursday showed.
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The housing market has halved in a year, according to a series of reports.
It emerged yesterday that house sales through estate agents are down 50 per cent and the number of Britons taking out a mortgage has collapsed by 46 per cent.
The National Association of Estate Agents said its firms sold an average of seven […]

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Two of the nation’s largest home builders after Wednesday’s market close report quarterly losses as housing market weakness continues to weigh on the beleaguered industry and hopes for a recovery this spring.
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BusinessWeek Online - It wasn’t too surprising that median prices for U.S. used homes dropped again in March — the seventh straight month of declines, the National Association of Realtors reported on Apr. 22.
The mounting glut of unsold homes might be a bigger concern for economists. The housing inventory in March increased 1%, to 4.06 […]

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