October 28, 2013 |
Signed contracts for previously owned homes fell sharply in September, an indication the rising cost of housing has sapped demand, according to a trade group. The National Assn. of Realtors said Monday that its pending sales index fell 5.6% from a downwardly revised figure in August--the fourth consecutive monthly decline. Pending sales--which represent contracts signed, but not closed--reached the lowest level since December 2012. “Declining housing affordability conditions are likely responsible for the bulk of reduced contract activity,” the Realtors' chief economist Lawrence Yun said in a statement. QUIZ: How well do you understand the Fed stimulus?
October 17, 2013 |
Home prices and sales fell last month in the Bay Area as the tech-rich region mirrored a cooling trend elsewhere within the state. The median home price in the nine-county region fell 1.9% from August to $530,000, while sales dropped 17.1% -- a steeper fall than the normal seasonal slowing, research firm DataQuick said Thursday. It was the second straight month that the median decreased. QUIZ: How much do you know about mortgages? Home prices shot up dramatically earlier this year as investors and families battled over few available homes amid rock-bottom mortgage rates.
October 1, 2013 |
U.S. monthly auto sales declined in September for the first time in more than two years, in part because of a calendar quirk that landed Labor Day weekend sales in the August report. Automakers sold a little more than 1.1 million vehicles last month, a 4.2% decrease from September a year ago, according to Autodata Corp., an industry research firm. The single-month decline snapped a 27-month streak of year-over-year gains dating back to June 2011, according to Edmunds.com, the car shopping information company.
October 1, 2013 |
U.S. monthly auto sales declined in September for the first time in more than two years, in part because of a calendar quirk that landed Labor Day weekend sales in the August report. Auto information company TrueCar.com estimated that by the time all of the automakers report their results Tuesday, sales will have topped 1.1 million, about a 4% decline from September last year. Ford Motor Co. said the decline may be closer to 5%. General Motors Co. said it sold 187,195 vehicles in the U.S. last month, an 11% decrease from the same month a year earlier.
September 26, 2013 |
Americans signed fewer contracts for home purchases in August as interest rate increases and higher prices tempered demand, according to a real estate trade group. The National Assn. of Realtors said Thursday that its pending sales index fell 1.6% from July. The index represents contracts signed for existing homes, but not yet closed -- providing a look into future market activity. Pending sales remain 5.8% higher than last year. The monthly decline was to be expected, said Lawrence Yun, the association's chief economist.
August 28, 2013 |
New contracts for existing homes fell nationally in July, a sign the housing recovery may be taking a breather. The National Assn. of Realtors said that its pending sales index fell 1.3% from June, the second consecutive monthly decline. The report, released Wednesday, comes as buyers face higher mortgage interest rates, which the group said lessened demand. The decline was slightly greater than expected although pending sales are 6.7% higher than July 2012. INTERACTIVE MAP: Southern California's housing recovery “The modest decline in sales is not yet concerning, and contract activity remains elevated, with the South and Midwest showing no measurable slowdown,” Lawrence Yun, chief economist for the trade group, said in a statement.