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Housing minister Caroline Flint’s blunder reveals 10% slump but it’s not official – yet (Times Online) Homes for sale number rises to above 1m (Daily Telegraph) U.S. luxury-home builder reports sharp fall in sales (International Herald Tribune) Mortgage cos. reveal damage from housing crisis (AP via Yahoo! News) Housing inventory rises again in April (CNN Money) Sales fall 30 percent at home builder (Asbury Park Press) Senate panel set for housing vote Thursday: source (Washington Post) Minister lets slips fears over housing (AFP via Yahoo! News) Housing Prices Tumble in Two-Thirds of U.S. Cities (Update1) (Bloomberg.com)
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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.
More than one million unsold properties are on the market, as homeowners take the longest time on record to sell their homes.
Toll Brothers said preliminary home building sales in second quarter fell by 30 percent from a year earlier to $817.9 million.
Broad damage in the mortgage industry was in full view Monday as a number of companies posted dismal first-quarter earnings, but there were also some hope that the worst of the housing crisis is over.
The number of homes for sale was on the rise again in April, according to figures from Zip Realty, a California-based real estate broker.
Investors scouring for hints of a housing upturn won't find much evidence in the second-quarter preliminary sales results of luxury-home builder Toll Brothers Inc.
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.
A minister let slip fears about the state of the country's housing market Tuesday by inadvertently showing briefing notes as she arrived for a meeting.
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.