Housing activity improved in December, with the composite HMI index climbing to 58 while the "buyer traffic" index rose to a level of 44.
The NAHB's latest Housing Market Index showed flat housing activity in November. The composite HMI index held at 54 while the 'buyer traffic' index slumped to a level of 42.
Fed decision not to taper buoyed Wall Street, but James Bullard, head of the Federal Reserve Bank of St. Louis, says a cutback in bond-buying could come as early as next month, depending on the economy. Also this week, housing posts mostly strong numbers, JPMorgan agrees to nearly $1 billion settlement, and the owner of Olive Garden and Red Lobster cuts jobs.
The Federal Reserve and Fed Chief Ben Bernanke surprised Wall Street by announcing the Fed would not reduce its stimulus purchases to boost the economy. Because mortgage rates had surged in anticipation of a Fed move, Wednesday's announcement could send mortgage rates down and give the housing market a big bounce.
Second newspaper starts up in Long Beach, while online news provider Patch slashes its staff. Yahoo's online-savvy CEO makes a fashion statement – in a magazine. This week in the economy.
Not everyone can take out a mortgage to buy a home, but the American dream is still attainable for the vast majority of Americans, Hamm says. How do you get your finances into good enough shape to buy a house? Hamm walks readers through the road to homeownership.
This fall, Congress and President Obama will debate how much taxpayers should still back homeownership. But first they need to ask if owning a home leads to well-being.
Homebuilders are feeling more confident as more people enter the market to buy homes and fewer homes are being left on the market.
Retail sales increased for the third straight month in June, but fell well short of expectations. The retail sales report might hint that consumers are feeling the delayed effects of January's payroll tax hike, according to some analysts.