The U.S. housing slump continued in April

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U.S. homebuilding fell for a second straight month in June and permits dropped to a two-year low, suggesting the housing market continued to struggle despite declining mortgage rates. The Commerce.

The U.S. housing market continued to soften in April, with the spring selling season so far proving a disappointment despite falling mortgage rates and a strong economy. Existing-home sales fell 0.

The April reading of U.S. existing home sales missed expectations on Tuesday, adding another losing month to a long trend on a year-over-year basis. The big picture: After sales fell by almost 5% month-over-month in March, which was the biggest drop since November 2015, there was hope April would show a major pickup.

Based on the historic trends in valuations of U.S. housing, many economists and business writers predicted a market correction, ranging from a few percentage points, to 50% or more from peak values in some markets, and, although this cooling did not affect all areas of the United States, some warned that the correction could and would be "nasty" and "severe".

 · Latin America Feels Pain Of U.S. Housing Slump By JOEL MILLMAN April 23, 2007; Page A2. The slowing U.S. housing market already has taken a bite out of the U.S. economy. Now, the fallout is spreading to Latin America. That’s because home construction is the principal gateway industry for immigrants entering the U.S. labor market.

 · Higher mortgage rates, slowing demand will make it harder for sellers and buyers.

Home prices in 20 U.S. metropolitan areas fell in April 2008 by the most on record. The Case-Shiller Index of 20 large cities for April 2008 shows housing price declines are accelerating, and are now falling at a rate of 15.3% from last year’s levels.. The report also showed that home prices fell 1.4 percent in April from a month earlier after a 2.2 percent decline in March.

The troubled US housing sector saw little relief in April as sales declined and prices fell further, creating a record glut of homes for sale, an industry group said Friday. (AFP/David Mcnew) America’s home-buying season, when for-sale signs sprout like dandelions, is shaping up to be even worse than expected this year, with prices falling, sales slowing and few signs of a turnaround emerging.

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IMF says housing slump critical Originally published July 29, 2008 at 12:00 am The International Monetary Fund (IMF) said Monday there’s no end in sight to the U.S. housing recession and warned.