m i economic economic indicators home sales News

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New Home Sales Slowest in at Least a Half-Century

WASHINGTON -- Home construction in the United States is all but coming to a halt. Americans are on track to buy fewer new homes than in any year since the government began keeping data almost a half-century ago. Sales are now just half the pace of 1963 - even though there are 120 million more people in the United States...

Feds Escalate Investigations of Foreclosure Practices

(Oct. 25) -- The multiple federal agencies investigating questionable foreclosure practices at the nation's largest mortgage servicers have banded together and plan to announce their preliminary findings in November. The news, announced by Federal Reserve Chairman Ben Bernanke today, came amid nascent signs of...

Hopeful Economic Signs Complicate Fed's Task

(Oct. 20) -- There's an uptick in business travel and tourism, consumers are more willing to buy cars, and retail forecasts for the holidays are upbeat. Those new signs of growth in the laggard U.S. economy are welcome, but they could complicate policymakers' efforts to spark a bolder expansion. The Federal Reserve's...

No One Should Have Been Surprised by the Plunge in Home Sales

(Aug. 25) -- Whenever there's housing news, I turn to economist Dean Baker, one of the few to foresee the housing bubble, for insight. He takes issue with this sentence from today's Washington Post story: "Analysts had expected sales to decline following the expiration of a federal tax credit for homebuyers this spring,...

Why Is the Housing Market Plummeting? 5 Theories

(Aug. 24) -- Sales of existing homes dropped 27.2 percent in July, accelerating the recent decline in the already frail housing market. This brings the number of existing houses sold to an annual rate of only 3.83 million units, the lowest figure since 1999. The number of single-family home sales hit its lowest level since...