Columbia Newsblaster: Existing home sales fall 2.6 percent in June, more than double the expected amount -

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Existing home sales fall 2.6 percent in June, more than double the expected amount -
Summary from multiple countries, from articles in English

When will home prices stop falling? The answer is critical to millions of American homeowners who are watching their home equity melt away or are unable to move because falling values have sent potential buyers to the sidelines. (article 3) A major housing package passed by the House Wednesday after months of debate could help boost the market by offering a credit to first-time home buyers, the group said. (article 3) The number of homes sold in the US fell 15.5% in June compared with the same month last year, as the US housing market continued its slump. (article 4) Analysts said the figures from the National Association of Realtors (NAR) suggested the housing market had not yet found a bottom. (article 4) WASHINGTON - Two cornerstones of the economy und jobs and housing und sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record. (article 5) The bleak reports underscored the self-reinforcing cycle hampering the economy: As home prices sink, foreclosures rise, banks feel pressure to shy away from lending and employers cut jobs. (article 5) The National Association of Realtors reported today that sales dropped by 2.6 percent last month to a seasonally adjusted annual rate of 4.86 million units. (article 1)

Other summaries about this story:

Summary from the United Kingdom, from articles in English (1 articles) [compare]

Summary from United States, from articles in English (4 articles) [compare]

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Story keywords

mortgage, Freddie, Fannie, housing, Mac

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