Drop Down in U.S. Housing Sales, Why?

United States housing prices experienced a major market correction after the housing bubble that peaked in early 2006.Prices of real estate then adjusted downwards in late 2006, causing a loss of market liquidity and subprime defaults. A real estate bubble is a type of economic bubble that occurs periodically in local, regional, national or global real estate markets.

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U.S. New-Home Sales Drop Again, but Economists Don’t See housing-market downswing analysts cite weather, volatile nature of the new-home sales data

NEW YORK, July 24 (Reuters) – U.S. mortgage applications decreased last week, as expensive materials and shortages of land and labor have constrained builders’ ability to produce more affordable.

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New home sales account for about 10 percent of the US housing market.. The median new house price dropped 4.5 percent from a year earlier to. to clear the supply of houses on the market, down from 5.5 months in June.

A drop in home sales and average home prices between June and July has raised concerns that the metro Denver housing market may be topping out.. while the average price for condos sold was down. Homebuyers are paying more and fewer new single-family homes are being bought in the U.S., Reuters reported.

It’s been a tough few months in Detroit. After seven years of gangbuster sales, the U.S. auto market is skidding badly. The American car and truck segment is remarkably easy to get a handle on.

Sales of previously owned homes slipped 1.7% in June, reflecting continued weakness in the U.S. housing market despite a sharp drop in mortgage rates.. sales sold at a 5.27 million annual pace last month, down from 5.36.

Sales of new U.S. single-family homes fell for a second straight month in January, weighed down by steep declines in the Northeast and South, which could raise concerns the housing market is slowing. Others included U.S. Housing Market Index from the National Association of Home Builders (NAHB).