A few nice investing in real estate images I found:
AP_NEW_HOME_SALES
Image by JAWspeak
Sales of new homes fell in June for the first time in four months, and the government also lowered figures for May, providing further evidence the high-flying housing market is losing altitude.
The Commerce Department reported Thursday that new home sales fell 3 percent last month to a seasonally adjusted annual sales pace of 1.131 million units. It was the first decline since an 11.5 percent drop in February.
The government also cut its estimate of sales activity in May to a pace of 1.166 million units, substantially below its initial estimate of 1.234 million units.
AP article
Valetta, Malta, Malta Investing/Development For Sale - Commercial Property Investment Malta
Image by International Real Estate Listings
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Recent home sales, by the numbers
Image by JAWspeak
Many economists stop short of predicting a wholesale housing bust. The Fed's policymakers said they believed the "gradual cooling of the housing market" would help slow the economy and allow inflation pressures to moderate.
The Fed's cease-fire on rate hikes came after various reports showed the housing boom is definitely over. Sales of new homes and existing homes have been falling. Though median prices are still rising, gains have been the smallest in years.
A record level of unsold homes is expected to exert even greater pressure on prices in coming months.
The concern is that the sizable inventory glut could worsen as millions of Americans with adjustable rate mortgages, taken out when interest rates were at four-decade lows, suddenly find they can't meet new higher monthly payments.
IBD article
