Lawrence Yun News
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Prices for single-family homes increased in 89 percent of U.S. cities in the first quarter as the housing market extends a recovery from a five-year slump.
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More Americans than forecast signed contracts in March to buy previously owned homes, another indication of progress in the housing market.
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Previously owned U.S. home sales unexpectedly dropped in March as a lean supply of properties kept the industry from generating a stronger recovery.
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Wells Fargo & Co., the largest U.S. home lender, is turning to former University of Notre Dame football coach Lou Holtz and a captive audience of real-estate agents to attract new business as the pace of U.S. mortgage refinancings is set to drop to the slowest since 2008.
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Sales of previously owned U.S. homes probably rose in March for a third month to reach the highest level since late 2009, further evidence of an improving real-estate market, economists said before a report today.
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Americans bought existing homes at the fastest pace in three years in February as borrowing costs near record lows spurred a housing revival that’s forecast to boost economic growth this year.
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Rents for single-family homes are rising slower than property prices as firms such as Blackstone Group LP flood the market with homes for lease, posing risks to investors betting billions on the burgeoning market.
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Sales of existing homes fell in September, extending a pattern of declines and gains that show the industry continues to be buffeted by consumer pessimism and unemployment above 9 percent.
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Sales of U.S. previously owned homes unexpectedly climbed in January to the highest level in eight months as investors used all-cash transactions to snap up distressed properties.
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Danea Kelly made her first shopping trip for a New Jersey shore vacation home on the Saturday before Hurricane Sandy made landfall. It won’t be her last.
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