BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[U.K. home prices record largest annual decline in 20 years]]>http://www.bloggingstocks.com/2008/08/28/u-k-home-prices-record-largest-annual-decline-in-20-years/http://www.bloggingstocks.com/2008/08/28/u-k-home-prices-record-largest-annual-decline-in-20-years/http://www.bloggingstocks.com/2008/08/28/u-k-home-prices-record-largest-annual-decline-in-20-years/#commentsFiled under: , , , , ,

The protracted housing slump that has devastated U.S. home prices now appears to have fully-enveloped the United Kingdom. Home prices in the United Kingdom in August fell at their fastest pace in two decades (pdf), U.K.-based mortgage lender Nationwide Building Society announced Thursday.

On a year-over-year basis, the average price of a U.K. home plummeted 10.5% to $301,500 or 164,654 British pounds in August, NBS said. Further, it was the first year-over-year double-digit decline in the U.K. since 1990.

London-based economist Mark Chandler told BloggingStocks Thursday the August U.K. housing data, "is just dreadful."

"Housing in the U.K. is becoming a bit of a 'magical mystery tour,' to borrow a phrase from The Beatles. For a month or so, we thought the declines in home prices had moderated. Apparently not," Chandler said. "Tighter lending requirements and real concern about the economy have sapped sales and it's really showing up in the price data."

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U.K. home prices record largest annual decline in 20 years originally appeared on BloggingStocks on Thu, 28 Aug 2008 13:17:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>average home priceBank of EnglandBOEECBEuropean Central BankFedgdphome priceshousing sectorinterest ratesinthenewsNationwide Building SocietyU.S. Federal ReserveUnited KingdomThu, 28 Aug 2008 13:17:00 EST<![CDATA[January new home sales fall 2.8% to 588k annual rate, below estimate]]>http://www.bloggingstocks.com/2008/02/27/january-new-home-sales-fall-2-8-to-588k-annual-rate-below-esti/http://www.bloggingstocks.com/2008/02/27/january-new-home-sales-fall-2-8-to-588k-annual-rate-below-esti/http://www.bloggingstocks.com/2008/02/27/january-new-home-sales-fall-2-8-to-588k-annual-rate-below-esti/#commentsFiled under: , , ,

Sales of new homes fell 2.8% to a seasonally-adjusted annual rate of 588,000 in January 2008, the U.S. Commerce Department announced Wednesday (pdf). Economists surveyed by Bloomberg had expected a seasonally adjusted rate of 600,000.

Meanwhile, the December 2007 seasonally-adjusted total was revised to 605,000.

The median sales price of new houses sold in January 2008 fell 4.3% to $216,000; the average sales price rose 0.7% to $276,600.

In addition, the seasonally-adjusted estimate of new houses for sale at the end of January 2008 was 482,000 -- representing a 9.9-month supply at current the current sales rate.

Economist Steve Affinito told BloggingStocks Wednesday the January 2008 new home sales data is in-line with earlier data on existing home sales, indicating that the housing slump is far from over.

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January new home sales fall 2.8% to 588k annual rate, below estimate originally appeared on BloggingStocks on Wed, 27 Feb 2008 11:19:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>average home priceGDPhome constructioninthenewsinventoriesmedian home pricenew home salesU.S. Commerce DepartmentU.S. economyWed, 27 Feb 2008 11:19:00 EST