Home prices in 20 U.S. cities rose by the most since February 2006 in the 12 months through September, showing the housing market sustained progress even as borrowing costs climbed.
Purchases of previously-owned U.S. homes fell in October to the lowest level in four months as limited supply and higher mortgage rates restrained momentum in the housing-market recovery.
Copper dropped for a second day, slumping to the lowest in three months, as U.S. homebuilder confidence held at a four-month low, stoking concern that demand from the second-biggest user will slow.
Confidence among U.S. homebuilders held in November at a four-month low as buyer traffic and sales outlooks retreated.
Copper futures fell for the first time in three sessions on signs that the U.S. housing recovery may be slowing, fueling speculation that demand will ebb for the metal used in pipes and wiring.
Confidence among U.S. homebuilders fell to a four-month low in October, underscoring the toll that partisan brinkmanship in Washington and the federal government shutdown are exacting on the economy.
President Barack Obama is pressing U.S. lawmakers to confirm Mel Watt to run the regulator of Fannie Mae and Freddie Mac as efforts to overhaul the nation’s housing finance system intensify.
Confidence among U.S. homebuilders fell more than forecast in October to a four-month low as rising interest rates and the budget battle in Washington stifled progress in the housing market.
The National Association of Home Builders lowered its forecast for U.S. single-family home starts this year and next as higher interest rates slow the pace of growth in the housing market.
Following is the text of the Housing Opportunity Index from the National Association of Home Builders.
NAHB's Crowe Says Housing Rates `Still Affordable'
Denk Says Home Builders Report Is `Good Sign'
Crowe Says U.S. Home Building Best in Midwest
Crowe Discusses Housing Market
NAHB's David Crowe Discusses February Home Sales