UK Home Sellers Bring More Properties to Market, Rightmove Says
Britain’s red-hot property market may be about to cool after a 24% jump in the number of prospective sellers bringing homes to market.
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(Bloomberg) -- China’s real estate slump is probably past its worst -- but the market remains a long way from a full recovery.
Last month's Greater Vancouver area home sales dropped by about 35 per cent since last June and 16 per cent from May 2022 as houses remained on the market longer and interest rates rose, the region's real estate board said Tuesday.
Signs of a rapidly deteriorating US economic outlook have spurred bond traders to pencil in a complete policy turnaround by the Federal Reserve in the coming year, with interest-rate cuts in the middle of 2023.
James Zenni’s Z Capital Group LLC, an investment firm focused on private equity and credit wagers, is exploring strategic options including the sale of a minority stake, according to a person with knowledge of the matter.
VANCOUVER - Home sales in British Columbia plummeted last month compared with March of last year, but the B.C. Real Estate Association says the decline was not reflected in prices.
Sales figures released by the association for March show 7,409 homes changed hands last month, a decline of 24.6 per cent over March 2017, while average property prices climbed 5.3 per cent over the same period.
A news release from the association says the average home sold for $726,930 last month and it blames persistently high prices on the lack of properties available for sale.
It says total active listings have changed very little since March of 2017, nudging a 12-year low across B.C.
Association chief economist Cameron Muir forecasts prices will continue to climb as long as the trend continues.
He is also critical of what he calls the "burdensome" mortgage qualification rules that took effect in January, saying they have had the "predictable effect of swiftly curbing housing demand."