
US Previously Owned Home Prices Fall for First Time Since 2012
The median sales price of a previously owned US home slid in February for the first time since 2012, offering some relief for buyers still faced with high borrowing costs.
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The median sales price of a previously owned US home slid in February for the first time since 2012, offering some relief for buyers still faced with high borrowing costs.
Homebuilders are rising as much as 1.7% Tuesday after data showed previously owned home sales snapped a yearlong slide, rising in February by the most since mid-2020.
A bomb threat was called in just as a judge in lower Manhattan was about to start a hearing over a $250 million lawsuit by New York Attorney General Letitia James against Donald Trump.
New York Attorney General Letitia James asked a state judge to force the accounting firm Whitley Penn LLP to produce documents and testimony in her $250 million lawsuit against Donald Trump.
US sales of previously owned homes rose in February by the most since mid-2020, snapping a record year-long slide tied to rising interest rates and affordability constraints.
Jul 12, 2019
Bloomberg News
,Toronto’s apartment crunch is finally easing as new supply hits the market and the removal of rent controls leads to record units on the drawing board, according to a new report.
The vacancy rate rose to 1.5 per cent in the second quarter, the highest since 2015, when research firm Urbanation began tracking the data. Rent increases eased to 7.6 per cent from 10.3 per cent last year, bringing the cost of an average-sized unit of 794 square feet to $2,475 ($1,894).
Conditions eased as nine buildings totaling 3,078 units began occupancy in the 12 months through June, a 25-year high for annual completions. While construction has taken a step back, the number of units proposed by builders reached a record 44,093 units in the second quarter, Urbanation said Friday.
“The growth in purpose-built rental applications follows the provincial government’s recent removal of rent control for new buildings,” according to Urbanation. Other programs to encourage new rental housing such as deferrals for development charges and the expansion of low-cost construction loans from Canada Mortgage & Housing Corp. also helped, the Toronto-based research firm said.