Friday, November 22

Tag: Housing Sales Figures

Chinese State-Owned Firms Establish $1.4 Billion Fund
2Jan By adminNo Comments
World

Chinese State-Owned Firms Establish $1.4 Billion Fund

Two Chinese state-owned companies will establish a 10 billion yuan ($1.41 billion) fund to invest in companies with real estate project assets.Under the agreement, New China Life Insurance will be the limited partner providing CNY9.9 billion in capital and China International Capital Corp.will act as general partner that will manage the fund, New China Life said late Monday.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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October Home Sales Likely Fell to New 13-Year Low
21Nov By adminNo Comments
World

October Home Sales Likely Fell to New 13-Year Low

Tuesday’s existing-home-sales report is expected to show that the number of home sales in October fell to a new 13-year low.Economists surveyed by The Wall Street Journal estimate sales of previously owned homes fell a seasonally adjusted 1.5% in October from September.High home prices and elevated mortgage rates have made home purchases far less affordable for buyers, pushing many out of the market.The National Association of Realtors will release the October existing-home-sales report at 10 a.m. Eastern time Tuesday. Even as home-buying demand has slumped, the inventory of homes for sale has stayed low because high rates are making homeowners unwilling to sell and move. The limited supply is a major reason that home prices are rising in much of the U.S. Copyright ©2023 Dow Jones & C...
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China’s Problem With Unfinished Homes Keeps Getting Bigger
19Nov By adminNo Comments
World

China’s Problem With Unfinished Homes Keeps Getting Bigger

Updated Nov. 19, 2023 12:01 am ETChina’s housing market has a big problem: millions of unfinished homes that were sold but not delivered.Solving that is crucial for a recovery, but the problem keeps getting bigger. More property developers are defaulting on their debt and adding to the logjam of construction delays and stalled residential developments across the country. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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It’s Too Soon to Bet on China’s Housing Turnaround
15Nov By adminNo Comments
Money

It’s Too Soon to Bet on China’s Housing Turnaround

China’s troubled property market remains on shaky ground despite a raft of government policies to stabilize it—and a big jump in property developer stocks today. Beijing still needs much more forceful measures if it wants to turn around the market and stabilize the economy.Residential home sales in China kept contracting last month, data released Wednesday showed. They fell 3.7% year-over-year in the first 10 months of 2023, compared with a 3.2% decline in the first nine. Property investment also remains depressed: It dropped 9.3% over the same period.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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China’s Retail Spending Picks Up, as Housing Slump Deepens
15Nov By adminNo Comments
World

China’s Retail Spending Picks Up, as Housing Slump Deepens

Updated Nov. 15, 2023 12:15 am ETHONG KONG—China’s economy showed modest signs of improvement in October as consumer spending picked up, but the country’s prolonged property slump worsened.Retail sales rose 7.6% compared with the same period last year, when stringent Covid lockdowns kept a tight lid on spending activities, according to data released Wednesday by China’s National Bureau of Statistics. October’s sales accelerated from September’s 5.5% year-over-year growth and topped the 7% expected by economists.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Buying a House Isn’t Happening, So They’re Spending and Saving Differently
10Nov By adminNo Comments
World

Buying a House Isn’t Happening, So They’re Spending and Saving Differently

Updated Nov. 10, 2023 9:45 am ETListen to article(2 minutes)Would-be home buyers are giving up on the housing market and finding other ways to use the money they had been saving.With mortgage rates near 8% and average home prices hitting record highs, sales of existing homes were down 15.4% year-over-year in September, according to the National Association of Realtors. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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When You Give Up on Buying a House, What Do You Do With the Down Payment?
10Nov By adminNo Comments
Money

When You Give Up on Buying a House, What Do You Do With the Down Payment?

Listen to article(2 minutes)Would-be home buyers are giving up on the housing market and finding other ways to use the money they had been saving.With mortgage rates near 8% and average home prices hitting record highs, sales of existing homes were down 15.4% year-over-year in September, according to the National Association of Realtors. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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U.K. Home Prices Fall Became More Widespread in October
30Oct By adminNo Comments
World

U.K. Home Prices Fall Became More Widespread in October

The U.K. housing market saw widespread price falls in September, as higher mortgage rates and cost-of-living pressures squeezed buyer budgets across most local markets, according to new research published by Zoopla.U.K. house prices fell 1.1% on year, the most dramatic slowdown in price growth since 2009. House price falls—previously concentrated in Southern England—are now hitting 80% of local markets, though the size of the declines remains limited below 5%, the real-estate company said Monday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Home Sales Slide to Lowest Pace Since 2010 as High Rates Squeeze Market
19Oct By adminNo Comments
World

Home Sales Slide to Lowest Pace Since 2010 as High Rates Squeeze Market

Updated Oct. 19, 2023 10:46 am ETHome sales fell in September to the lowest rate in 13 years, showing the corner of the economy most weakened by high interest rates remains in decline.For all of 2023, sales of previously owned homes are on track to be the lowest since at least 2011, because increased rates are weighing on demand. But high rates are also limiting the inventory of homes on the market, because homeowners with low rates are unwilling to sell and move. The small supply is pushing home prices higher in much of the U.S.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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