Home Sales Plummeted in August According to Pending Data
Pending home sales for August were down 7.1% from the previous month, data from the National Association of Realtors revealed. This far outpaces the 1% decline projected by Bloomberg economists and is also a stark contrast from the 0.9% monthly increase recorded in July.
Several...
Chinese Economy Receives New Blow From Housing Slump
Official data from China's government on Tuesday is expected to show that the nation's economy is continuing to struggle to launch its economic rebound, with the property market expected to hamper economic growth. While industrial output, retail sales, and fixed-asset investment in July are...
London Home Prices Fall as Rates Discourage Buyers
Prices of homes in London fell more than any other region of the United Kingdom in June, a survey conducted by property portal Rightmove found.
Asking prices in London declined by 1.6% compared to the previous month. In contrast, prices on a national scale remained...
Recovering Banking Sector Faced With Mounting Real Estate Pressures
Although market confidence in the U.S. regional banks is being restored following the cooldown in the banking crisis, banks are now faced with an impending threat from the real estate sector.
Soros Fund Management Chief Executive Officer Dawn Fitzpatrick claimed at the Bloomberg Invest conference...
PacWest Bancorp Shares Rise Following Agreement to Sell Lending Unit
Shares in PacWest Bancorp rose by 6.4% during premarket trading on Wednesday following the mid-sized lender's announcement that it would sell its property lending unit later in the week. The company's shares remain 68% lower since the start of the year despite the daily...
Housing Market Affordability Expected to Remain Low, Experts Warn
Real estate experts have warned that the U.S. housing market appears unlikely to become significantly more affordable in the near term. This comes as both mortgage rates and home prices remain high.
Bankrate mortgage analyst Jeff Ostrowski claimed that while mortgage rates and home prices...