Sales of U.S. previously owned homes probably plunged in July to the lowest level since March 2009, evidence the market is restrained by foreclosures and limited job growth, economists said before a report today.
Seattle city planner Alan Justad is reviewing a project that will bring back the cranes, dust and noise absent since the real estate bust . This one will subtract from the skyline rather than add to it.
PulteGroup Inc. and D.R. Horton Inc., the largest U.S. homebuilders, tumbled after reporting lower-than-expected orders, adding to concerns that higher mortgage rates will hamper the nation’s housing recovery.
U.S. homebuilder shares are appreciating at a record rate this year, reflecting confidence the housing rebound from a six-year slump can accelerate with new-home sales still 50 percent below the 40-year average.
PulteGroup Inc. , the largest U.S. homebuilder by revenue, reported a wider third-quarter loss as the company recorded almost $1 billion in charges amid slumping home sales. The shares dropped the most in almost 18 months.