The number of new houses purchased jumped 23% in June from May in the US, but are still 16% below sales from June 2009. Sales in May had dropped to a record low, but have rebounded in June. Sales were expected to drop in May after the federal tax credit expired at the end of [...]
Archive for the ‘Property’ Category
Foreclosure notices are still as common as utility bills in the US, with 1.65 being served in the first half of 2010. RealtyTrac today released its Midyear 2010 U.S. Foreclosure Market Report, and the figures are still very bleak. The good news is that this figure is down 5% from the back 6 months of [...]
Home buyers in the US have had access to a “homebuyer tax credit”, an attempt to kick start the real estate market across the country. However, this tax credit lapsed in April, and experts are amazed at how much pending home sales have dropped. “The pending home sales report is a disaster,” said Mike Larson, [...]
Late in 2006 when the global property market started to collapse, this term started to appear in the headlines: Foreclosure. As the US economy was strongly reliant on the property market, the property crash lead to a global recession not seen since the great depression. Despite several attempts by the federal government to kick start [...]