Cited: Associated Press
The pace of growth may finally be slowing down even though the foreclosure crisis is not over. RealtyTrac Inc. stated that the number of US households facing foreclosure in February grew by 6% compared to the year. This was the smallest annual increase in 4 years the foreclosures declined on a monthly and [...]
Cited: AP
A warning has been given by the head of the FHA about increasing the minimum down payment required of borrowers that actually qualify for home loans. These increased down payment requirements on loans backed by the agency could threaten the housing market.
FHA commissioner David Stevens said at a House hearing March 11 that [...]
Cited: CNNMoney.com
According to a seasonally adjusted report by the Commerce Department, newly constructed home sales rose for the fifth straight month in August. They inched up 0.7% from July, which is 3.4% lower than a year ago. According to this seasonally adjusted annual rate, 429,000 more homes were sold and that is an increase from [...]
Cited: Reuters
An indication of a slower pace of the economic recovery is a reduction in the sales of previously owned homes in the United States that was unexpected in four months as of August. However, this was overshadowed by David indicating a pall in the number of new jobless benefit claims in the US [...]
