News Tag: housing market
August 15, 2011
US homebuilder confidence remained unchanged in August, according to the National Association of Home Builders (NAHB)/Wells Fargo sentiment index.
The index showed a reading of 15 in August, unchanged from July’s reading, suggesting the US housing market remains subdued.
However, the reading was in line with forecasts.
The index, which first commenced more than 25 years ago, hit an all-time low of 8 in ...
US homebuilder confidence flat in August
by Kay Mitchell
August 10, 2011
The Council of Mortgage Lenders (CML) has today reported the number of loans for house purchase rose in June.
According to the Council, there were 46,700 loans advanced for house purchase in the month – a rise of 22% compared with the previous month but 11% lower on an annual basis.
However, despite the annual fall, the CML said it was encouraged by ...
CML: Mortgage lending up in June
by Kay Mitchell
August 9, 2011
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in July with house prices falling further.
According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate.
The Rics report said 22% of surveyors reported ...
Rics: Housing market remains weak in July
by Kay Mitchell
July 29, 2011
The latest house price index from the Nationwide Building Society has revealed house prices crept up by 0.2% in July.
On an annual basis, house prices are now just 0.4% lower than this time last year with the average UK home costing £168,731.
The housing market remains subdued as a lack of buyers, together with the ongoing lack of mortgage ...
Nationwide: House prices edge 0.2% higher in July
by Kay Mitchell
July 28, 2011
The latest Beige Book report, published by the Federal Reserve, has revealed widespread signs that US economic growth is slowing.
The Fed said: “Economic activity continued to grow; however, the pace has moderated in many districts."
The economic recovery of the US remains sluggish in the face of higher unemployment and a depressed housing market, the report said.
It said: ...
Weak housing market and unemployment drag on US economy
by Kay Mitchell
July 27, 2011
The Commerce Department has revealed sales of new homes in the US fell in June, suggesting the housing market remains depressed.
According to the Commerce Department, new single-family home sales fell by 1% in June on a monthly basis to an annual rate of 312,000 units – lower than expectations of 325,000 units.
Meanwhile, the figures come shortly after the National ...
US new home sales fall in June
by Kay Mitchell
July 25, 2011
The housing market in England and Wales is "in broad equilibrium" despite prices continuing to edge lower, according to Hometrack, which recorded a 0.1% fall in the value of the typical dwelling in July, compared with June.
However, there are wide regional variations: prices moved higher across 8% of postcodes (primarily in London) and were lower across 27% of postcodes, with two fifths ...
Hometrack: housing market holds steady
by Gill Montia
July 22, 2011
HM Revenue & Customs (HMRC) has today revealed a marginal rise in the number of homes sold in June in the UK.
According to HMRC, 73,000 homes worth at least £40,000 or more were sold in the month – 5,000 higher than May’s level of 68,000.
However, it is 12,000 lower than June 2010’s figure.
Today’s figures, along with other recent ...
HMRC: House sales see slight rise in June
by Kay Mitchell
July 21, 2011
The US housing market remains depressed after figures have revealed sales of previously owned homes fell 0.8% on a monthly basis to a 7-month low, according to the National Association of Realtors (NAR).
The industry body said the fall in sales was attributed to contract cancellations with sales running at an annual rate of 4.77 million units – the lowest level ...
US existing home sales down in June
by Kay Mitchell
July 12, 2011
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in June with house prices falling more than expected.
According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers remain uncertain about the economic climate.
These factors, together with the ongoing mortgage rationing, mean the housing market is expected ...
Rics: Housing market remains in the doldrums
by Kay Mitchell
July 4, 2011
According to figures from the Bank of England, Britons increased their financial stake in their homes by £5.8 billion in the first quarter of 2011 – the smallest injection in a year.
The figure was much lower than the £7.1 billion in the October to December period in 2010 – which represented the highest since records began in 1970.
The figures suggest the ...
BoE reveals housing equity injection slows
by Kay Mitchell
June 30, 2011
The latest house price index from the Nationwide Building Society has revealed house prices remained unchanged in June after a 0.3% rise in May – in line with expectations.
On an annual basis, house prices are now 1.1% lower than this time last year with the average UK home costing £167,208.
The housing market remains subdued as a lack of buyers, together ...
Nationwide: House prices unchanged in June
by Kay Mitchell
June 29, 2011
The Bank of England has today revealed mortgage approvals remained weak in May.
According to the Bank, there were 45,940 loans approved in the month – slightly higher than April’s 45,447 but lower than forecasts of a level of 46,100.
Furthermore, May’s figure was lower than the average for the previous six months.
Today’s figures reinforce expectations that the housing market will ...
BoE: Mortgage approvals remain weak in May
by Kay Mitchell
June 27, 2011
The Commerce Department has today reported consumer spending in the US was flat in May.
This was the first month since September 2009 that there was no growth, surprising analysts who had expected a 0.1% rise.
Consumer spending is closely monitored as it accounts for approximately 70% of total economic output.
However, many analysts said consumers have been squeezed due to higher petrol prices. ...
US consumer spending unchanged in May
by Kay Mitchell
June 24, 2011
The Commerce Department has today revealed the US economy grew by an annualised 1.9% in the January to March period – marginally higher than the previous estimate of 1.8%.
On a quarterly basis, growth was up 0.58%.
Today’s reading is the third and final for first quarter growth.
Stubbornly high unemployment and a depressed housing market are impacting negatively on the world’s ...
US Q1 economic growth figures revised upwards
by Kay Mitchell
June 23, 2011
The Commerce Department has today revealed sales of new homes in the US fell, suggesting the housing market remains depressed.
According to the Commerce Department, new single-family home sales fell by 2.1% in May on a monthly basis to an annual rate of 319,000 units, after two consecutive months of gains.
However, despite the fall, new home sales are above levels recorded ...
US new home sales fall in May
by Kay Mitchell
June 21, 2011
The US housing market remains depressed after figures today revealed sales of previously owned homes plunged 15% on an annual basis last month, according to the National Association of Realtors (NAR).
The industry body also said sales were down 3.8% on the previous month to a seasonally adjusted annual rate of 4.81 million units – below forecasts.
However, the NAR points out ...
US existing home sales down in May
by Kay Mitchell
HMRC: House sales continue to fall in May
by Kay Mitchell
May 27, 2011
The latest house price index from the Nationwide Building Society has revealed a 0.3% rise for the month of May compared with April.
The latest fall means house prices are now 1.2% lower than this time last year with the average UK home costing £167,208.
Despite the rise, the housing market remains subdued as a lack of buyers, together with the ongoing ...
Nationwide: House prices rise 0.3% in May
by Kay Mitchell
May 24, 2011
HM Revenue & Customs (HMRC) has today revealed a fall in the number of homes sold in April in the UK.
According to HMRC, 66,000 homes worth at least £40,000 or more were sold in the month – 1,000 less than the previous month and 6,000 lower than in April 2010.
Today’s figures, along with other recent reports, suggest the housing market ...
HMRC: House sales fall in April
by Kay Mitchell
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