Supplies are at levels not seen since the frenzy of the last housing boom while the median price for a new home hit a record high, further signs that housing is recovering.» Read More
U.S. consumer confidence halted a six-month slide in July, bouncing off its lowest level in more than a decade as worries over inflation receded slightly, the Conference Board said.
Standard & Poor's may cut ratings on Fannie Mae and Freddie Mac, citing concerns that government plans to shore up the mortgage finance companies may subordinate the debt.
Sales of newly constructed US single-family homes were stronger than expected in June, providing a glimmer of hope for the beaten-down housing market.
The best way to help the ailing U.S. housing market recover from the $1 trillion of losses it faces will be to cut the cost of mortgages via the U.S. housing bill and rescue package for mortgage finance giants, the manager of the world's biggest bond fund said
Sales of existing homes fell a bigger-than-expected 2.6% in June to a 10-year low, as housing continued to be bruised by the worst slump in over two decades.
The U.S. Senate is due to vote finally Saturday to approve a major housing market rescue bill, including federal financial assistance for Fannie Mae and Freddie Mac.
Pulte Home, posted a smaller quarterly loss on Wednesday, but said buyer confidence remained shaky.
Rescue legislation sailed through the House Wednesday aimed at helping 400,000 homeowners avoid foreclosure and to prevent Fannie Mae and Freddie Mac from collapsing.
Congress looks set to pass a housing rescue bill that will backstop Fannie Mae and Freddie Mac, create tougher oversight of the mortgage finance giants and spend billions to prevent home foreclosures.
Shares of Fannie Mae and Freddie Mac surged after President Bush dropped opposition to a housing rescue bill, which would offer a lifeline to the mortgage giants.
Single mother Mary White worked as a sales clerk until the bank foreclosed on the home she rented. Tossed out on the street with her six boys, she lost her deposit and her job. Now she is revved up to vote in November.
The financial crisis won't be over until U.S. house prices stop falling, many experts believe, which means it won't be over soon.
U.S. home prices extended their slide in May with a 0.3 percent decline from the previous month, the Office of Federal Housing Enterprise Oversight said Tuesday.
Home building projects started in June surprisingly rose 9.1 percent due chiefly to a change in New York City building codes that, if it were ignored, would have seen starts decrease by 4.0 percent.
The real estate market might be slumping, but not for Donald Trump, who sold his Palm Beach mansion for $100 million, his spokeswoman said Wednesday.
As if rising gasoline prices weren't enough, motorists are being hit by higher parking charges, with London coming up tops as the world's most expensive city to park your car, according to a survey.
Failed bank IndyMac Bancorp is under investigation by the FBI for possible fraud involving its mortgage lending, unnamed law enforcement officials said on Wednesday.
U.S. Federal Reserve policy makers fretted at their most recent meeting that growing inflation risks may require an interest rate hike, but agreed that the outlook for both prices and growth was still too uncertain, minutes of the meeting showed.
Federal Reserve Chairman Ben Bernanke told a House panel Wednesday a top Fed priority is restoring financial calm even as "too high" inflation and weak growth threaten the economy.
Housing finance giants Fannie Mae and Freddie Mac have the potential to pose systemic risks to the financial system and need a stronger regulator, U.S. Treasury Secretary Henry Paulson said on Tuesday.