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News

Toll Brothers preliminary 2Q sales fall 30 percent (AP via Yahoo! Finance)
Investors scouring for hints of a housing revival won't find much in the second-quarter preliminary sales results of luxury-home builder Toll Brothers Inc.

Five Things You Need to Know: Themes Converge Into Possible Housing Solution (Minyanville via Yahoo! Finance)
There are several themes at play in today's Five Things that we believe could potentially converge into a singular, overarching housing solution.

Housing minister Caroline Flint’s blunder reveals 10% slump but it’s not official – yet (Times Online)
House prices will fall by up to 10 per cent “at best” in the next year, according to a private government assessment laid bare by a minister’s blunder. Caroline Flint, the Housing Minister, told the Cabinet to prepare for a worsening market yesterday. “We can't know how bad it will get,” she said.

Moms Become Home Builders For Habitat For Humanity (FOX 2 News St. Louis)
Dozens of St. Louis moms got a head start on mother's day, Saturday, cutting wood and driving nails. They were part of the "Women Build Initiative"; turning everyday moms into home builders for Habitat for Humanity. Yolanda Frazier never knew she had it in her: building things, first of all, let alone owning her own house. "Right now I'm on a section 8 program," said Frazier, working on several ...

Housing Prices Tumble in Two-Thirds of U.S. Cities (Update3) (Bloomberg.com)
May 13 (Bloomberg) -- The median price for a single-family home in the U.S. dropped 7.7 percent in the first quarter, the biggest decline in at least 29 years, as values tumbled in two- thirds of U.S. cities, the National Association of Realtors said.

Meredith Clarke (London Free Press)
Home builders grow event Not just any event can fill the Lamplighter Inn's Crystal Ballroom to its capacity, but the London Home Builders' Association did just that last Thursday when it paid tribute to the outgoing president and welcomed its new president.

April report shows 811 homes for sale in Cowlitz County (The Daily News)
The number of Cowlitz County homes for sale in April reached its highest level in recent memory, but home sales have started rebounding after a slow start this year, according to a Northwest Multiple Listing Service report released Monday.

Remodeling business follows housing lower (MSNBC)
The downturn in the housing market has dragged the remodeling sector with it. For many contractors, that means a sudden struggle to stay busy.

Housing Prices Tumble in Two-Thirds of U.S. Cities (Update1) (Bloomberg.com)
May 13 (Bloomberg) -- Housing prices fell in two-thirds of U.S. cities in the first three months of the year as a rise in foreclosures depressed property values and home sales tumbled 22 percent, the National Association of Realtors said.

Hidden Lake Receives Award from National Association of Home Builders (Business Wire via Yahoo! Finance)
RALEIGH, N.C.----Hidden Lake, a community near Wake Forest, N.C., has received the prestigious "Green Project of the Year" Award from the National Association of Home Builders. Representatives from Crescent Communities, the developer of Hidden Lake, accepted the award at a ceremony in New Orleans on Sunday.

Flint gaffe reveals ministers' fears of housing slump (Independent)
House prices are set to fall by 5 to 10 per cent "at best" this year – but ministers have no idea how badly the market could slump, according to confidential cabinet documents accidentally revealed by the Housing minister, Caroline Flint.

Senate panel set for housing vote Thursday: source (Washington Post)
WASHINGTON (Reuters) - The Senate Banking Committee is due on Thursday to vote on legislation that would greatly expand a federal housing program and create a new regulator for Fannie Mae and Freddie Mac, a committee source said on Monday.

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