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Washington (AFP) - Sales of previously owned homes in the United States edged up in July, industry data showed on Thursday, breaking a four-month trend of declines. Homebuyers in the world's biggest economy have been grappling with a surge in mortgage rates after the US central bank rapidly lifted the benchmark lending rate in 2022. But the popular 30-year fixed-rate mortgage ticked down slightly in late July, potentially offering some relief to buyers. Existing home sales rose 1.3 percent from June to an annual rate of 3.95 million, seasonally adjusted, said the National Association of Realto...
AFP
New York (AFP) - The sales rate of new family homes in the United States dipped in June, missing analyst estimates amid still elevated interest rates, according to government data released Wednesday. New home sales in June came in at an annual, seasonally-adjusted rate of 617,000, according to data released jointly by the US census and housing departments. That was below the 621,000 rate in May, according to Wednesday's revised figures, and under the 640,000 projected by analysts. "Many potential buyers are remaining in a holding pattern due to elevated mortgage rates that averaged near seven ...
AFP
Washington (AFP) - US existing home sales dropped more than expected in June, according to industry data released Tuesday, while the median price hit a new high. The trends, underscoring affordability challenges for homebuyers, come even as mortgage rates cooled slightly. But a larger stock of inventory currently is seen as an encouraging sign that market conditions are improving. Sales of previously-owned homes retreated 5.4 percent from May to a seasonally adjusted annual rate of 3.9 million in June, the National Association of Realtors (NAR) said. The figure was slightly below the 4.0 milli...
AFP
Washington (AFP) - Sales of new homes in the United States were weaker than traders expected last month, according to government data published Wednesday, as mortgage rates remained high. New single-family home sales in May hit an annual, seasonally-adjusted, rate of 619,000, the Commerce Department said in a statement. This figure refers to the number of homes sold over a whole year if sales continue at the rate seen in May. This was 11.3 percent below April's revised figure of 698,000, and also less than market expectations of 650,000 sales, according to data from Briefing.com. "New home s...
AFP
Washington (AFP) - Existing home sales in the United States edged lower in May as prices reached a record high on continued tight inventory, according to industry data published on Friday. Sales of previously owned homes fell by 0.7 percent from a month earlier to a seasonally adjusted annual rate of 4.11 million, the National Association of Realtors (NAR) said in a statement. This was slightly above market expectations, according to Briefing.com. Year-over-year sales were down 2.8 percent. "Existing home sales edged lower in May, reflecting the backup in mortgage rates a month or two earlie...
AFP
Washington (AFP) - Existing home sales in the United States crept lower in April as mortgage rates remained elevated, industry data showed Wednesday. Sales of previously owned homes dipped by 1.9 percent from March, reaching a seasonally adjusted annual rate of 4.14 million, according to the National Association of Realtors (NAR). Analysts had expected a slight uptick last month. "Home sales changed little overall, but the upper-end market is experiencing a sizable gain due to more supply coming onto the market," NAR chief economist Lawrence Yun said in a statement. Total housing inventory at ...
AFP
Belgrade (AFP) - Donald Trump's son-in-law Jared Kushner has signed a lease for a building project at the site of the former Yugoslav army headquarters in Belgrade that was bombed in US-led NATO strikes in 1999. The project has ruffled feathers in Serbia as the site is a painful symbol of the NATO bombing campaign that put an end to the war in Kosovo, with the breakaway province later declaring independence. Construction Minister Goran Vesic insisted Wednesday the deal was not a sale but a 99-year lease. Kushner's Affinity Partners company "will invest in the revitalization" of the former mili...
AFP
New York (AFP) - Ousted WeWork co-founder Adam Neumann recently bid more than $500 million to buy back the struggling office-sharing group, according to media reports Monday. Neumann recently submitted the offer, but it was not clear how he would finance such a deal, The Wall Street Journal and CNBC reported, citing sources close to the matter. Neumann is seeking to buy the company out of bankruptcy, according to a letter to WeWork seen by AFP last month. WeWork went into bankruptcy in November with its major creditors set to take control of the company. At its height, WeWork was the biggest p...
AFP
Washington (AFP) - US new home sales ticked down surprisingly in February, according to government data released Monday, after January's rate was revised higher. New single-family home sales were at an annual rate of 662,000 last month, seasonally adjusted, 0.3 percent down from the revised 664,000 figure for January, said the Commerce Department. The median sales price of new properties sold was $400,500, lower than the month prior as well. The slight decreases come as mortgage rates remain at a much higher level than in recent years. But the situation has also made homeowners reluctant to en...
AFP
Washington (AFP) - Sales of existing homes made the biggest jump in a year last month on improved housing supply, according to industry data released Thursday, as mortgage rates held at slightly lower levels. Existing home sales advanced 9.5 percent in February from January to an annual rate of 4.38 million, seasonally adjusted, the National Association of Realtors (NAR) said. "Additional housing supply is helping to satisfy market demand," said NAR chief economist Lawrence Yun. This was the highest rate since February 2023, with sales of previously owned homes bogged down by elevated mortgage...
AFP
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