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  • An early rally fades on the US stock market

    Updated: 1 hr ago

    NEW YORK (AP) — U.S. stocks turned lower in midday trading, erasing an early gain. Trading was quiet as investors waited for a statement from the Federal Reserve later Wednesday. KEEPING SCORE: The Dow Jones industrial average fell 70 points, or 0.4 percent, to 16,842 as of 12:14 a.m. The Standard & Poor's 500 index sank two points, or 0.1 percent, to 1,967. The Nasdaq composite rose 12 points, or 0.3 percent, to 4,455. EARNINGS PARADE: Wall Street is in the middle of second-quarter earnings season, when big companies turn in their springtime results and tell investors how they think the rest of the year will shape up. Genworth Financial sank $2.09, or 13 percent, to $14.17 and Goodyear Tire & Rubber fell $1.94, or 7 percen

  • Home prices rise, sales down slightly in June


    BOSTON (AP) — A real estate group says prices for single-family homes rose again last month in Massachusetts even as sales fell off slightly compared to a year ago. The Massachusetts Association of Realtors reported Tuesday that the median price for a single-family home was $365,000 in June, compared to $351,000 in June 2013, a 4 percent increase. The median price for a condominium rose 3 percent to hit a record high of $330,000 last month. The organization said sales in June were down about 1 percent. But a separate report Tuesday, from the Warren Group, a Boston-based publisher of business data, reported a modest rise in single-family home sales in June compared to the same month a year ago.

  • US home price gains slow for 6th straight month


    WASHINGTON (AP) — U.S. home prices rose in May from a year earlier at the weakest pace in 15 months as sales remain modest in the spring buying season. The Standard & Poor's/Case-Shiller 20-city home price index, released Tuesday, increased 9.3 percent in May from 12 months earlier. That's down from 10.8 percent in the previous month and the smallest annual gain since February 2013. Yearly price gains slowed in 18 of the 20 cities. They accelerated in Charlotte, North Carolina, and were flat in Tampa, Florida. Home prices soared last fall and winter but have been steadily returning to a more sustainable level this year. Existing home sales have picked up, rising to an eight-month high in June. But they are still 2.3 p

  • Asia stocks rise modestly ahead of US, China data

    Updated: Mon, Jul 28, 2014

    SEOUL, South Korea (AP) — Asian stock markets posted modest gains Tuesday as investors treaded cautiously ahead of U.S. and Chinese economic reports later this week. KEEPING SCORE: Japan's Nikkei 225 added 0.5 percent to 15,604.80 and South Korea's Kospi rose 0.6 percent to 2,061.95. Hong Kong's Hang Seng inched up 0.2 percent to 24,483.85 while China's benchmark Shanghai Composite gained 0.1 percent to 2,180.52. Australia's S&P/ASX 200 was down 0.1 percent to 5,570.90. Markets in India, Indonesia and Malaysia were closed for holidays. EARNINGS: Companies are in the middle of corporate earnings season. Later Tuesday, Japanese carmaker Honda will report its quarterly financial results after the market close. Asian tech heavy

  • Contracts to buy US homes slip in June

    Updated: Mon, Jul 28, 2014

    WASHINGTON (AP) — Fewer Americans signed contracts to buy homes in June, as the real estate market appears to have cooled off this summer. The National Association of Realtors said Monday that its seasonally adjusted pending home sales index slipped 1.1 percent to 102.7 last month. The index remains 7.3 percent below its level a year ago. Sales have been slowed by a mix of meager wage growth, rising home prices, and mortgage rates that rose steadily through the end of last year. Pending sales are a barometer of future purchases. A one- to two-month lag usually exists between a contract and a completed sale. Signed contracts in June fell in the Northeast and South. They rose slightly in the Midwest and West. Pend

  • Correction: Housing-Clinging to Low Rates story

    Updated: Thu, Jul 24, 2014

    WASHINGTON (AP) — In a story July 11 about people who are hesitant to sell their homes and give up their ultra-low mortgage rates, The Associated Press reported erroneously that a rental index compiled by real estate data provider Zillow had risen 19 percent in the past year. In fact, Zillow's index measures how much of a typical renter's income goes toward rent; the index is 19 percent above its historical average. A corrected version of the story is below: Downside of low US mortgage rates? Less selling No sale by owner: Americans with lower mortgage rates hold tightly onto homes By CHRISTOPHER S.

  • After much movement, stocks end where they began

    Updated: Thu, Jul 24, 2014

    NEW YORK (AP) — Only Wall Street could make the buying and selling of more than 3 billion shares look like nothing happened. Major U.S. stock indexes ended roughly where they began Thursday, despite investors having to work through a busy day of corporate earnings and two economic reports. Underneath the flat surface, there was a lot of movement in individual companies. "It's a stock-specific market right now," said Ryan Larson, head of equity trading at RBC Global Asset Management. Facebook's stock rose 5 percent while Caterpillar's fell 3 percent after the companies each reported quarterly results. The Dow Jones industrial average edged down 2.83 points, or 0.02 percent, to close at 17,083.80. It was the fourt

  • US new-home sales plummet in June

    Updated: Thu, Jul 24, 2014

    WASHINGTON (AP) — Sales of new U.S. homes plunged in June, a sign that real estate continues to be a weak spot in the economy. New home sales fell 8.1 percent last month to a seasonally adjusted annual rate of 406,000, the Commerce Department said Thursday. The report also revised down the May sales rate to 442,000 from 504,000. Buying of new homes fell 20 percent in the Northeast, followed by less extreme declines in the Midwest, South and West. The modest sales caused the inventory of new homes on the market to increase to 5.8 months, the highest since October 2011. The median sales price was $273,500, up 5.3 percent over the past 12 months.

  • Average US 30-year mortgage rate at 4.13 pct.

    Updated: Thu, Jul 24, 2014

    WASHINGTON (AP) — Average U.S. long-term mortgage rates were stable to slightly higher this week, remaining near their lows for the year. Mortgage company Freddie Mac said Thursday that the nationwide average for a 30-year loan was 4.13 percent, unchanged from last week. The average for the 15-year mortgage, a popular choice for people who are refinancing, edged up to 3.26 percent from 3.23 percent last week. Mortgage rates are below the levels of a year ago, having fallen in recent weeks after climbing last summer when the Federal Reserve began talking about reducing the monthly bond purchases it was making to keep long-term rates low. The government reported Thursday that sales of new homes in the U.S. plunged by 8.

  • 5 tips for selling your home for the best price

    Updated: Wed, Jul 23, 2014

    LOS ANGELES (AP) — The rebound in U.S. home values over the past couple of years has placed many homeowners in a better position to sell their home for a profit. Still, getting a home sold can be challenging, even in markets where tight supply favors sellers. Here are five tips on how to get your home sold for the best price: 1. STUDY THE MARKET Most homeowners enlist the services of a real estate agent to market their home and perform a variety of tasks, including reaching out to a network of buyers' agents, preparing the home for viewing and dealing directly with prospective buyers. That shouldn't preclude sellers from being knowledgeable about the process, however.

  • Correction: Pets-Sweet Dog Suites story

    Updated: Thu, Jul 17, 2014

    LOS ANGELES (AP) — In a story July 16 about pet suites being offered in some of its new homes, The Associated Press reported erroneously the number of home communities being built by Standard Pacific Homes. It is 190, not 27. The story also reported erroneously the starting price of the homes. They start at $1.3 million, not $710,000. A corrected version of the story is below: Pets' amenities rising trend for homebuilders Homebuilders focus on family pets in rising trend of catering to furry friends By SUE MANNING Associated Press LOS ANGELES (AP) — These homes are set apart by their amenities — for dogs.

  • US home construction drops 9.3 percent in June

    Updated: Thu, Jul 17, 2014

    WASHINGTON (AP) — U.S. home construction fell in June to the slowest pace in nine months, a setback to hopes that housing is regaining momentum and will boost economic growth this year. Construction fell 9.3 percent last month to a seasonally adjusted annual rate of 893,000 homes, the Commerce Department said Thursday. That was the slowest pace since last September and followed a 7.3 percent drop in May, a decline even worse than initially reported. Applications for building permits, considered a good indicator of future activity, were also down in June, dropping 4.2 percent to a rate of 963,000 after a 5.1 percent decline in May. The worse-than-expected June performance reflected a big drop in activity in the South,

  • California home sales slumped in June

    Updated: Wed, Jul 16, 2014

    LOS ANGELES (AP) — California home sales slumped last month from a year earlier as buyers faced tight supply and prices continued to rise, a real estate research firm said Wednesday. There were 39,254 homes and condominiums sold in June, DataQuick said. That was up 4 percent from May — a typical seasonal rise — but it was nearly 20 percent below the average for all Junes since 1988. In fact, DataQuick said sales haven't topped the average for any particular month in more than eight years. The median price paid for a home in June was $393,000 — up 1.8 percent from May and 11.6 percent from June 2013. It was the highest median price for any month since December 2007 although well below the peak of $484,000 s

  • US homebuilder confidence surges in July

    Updated: Wed, Jul 16, 2014

    U.S. homebuilders' confidence in the housing market surged this month to the highest level since January, reflecting a pickup in sales of new homes and heightened expectations for sales the second half of the year. The brighter sales outlook suggests home construction could pick up in coming months after a sluggish start this year. The National Association of Home Builders/Wells Fargo builder sentiment index released Wednesday rose this month to 53, up four points from a revised reading of 49 in June. Readings above 50 indicate more builders view sales conditions as good, rather than poor. The latest reading is the first above 50 since January, when it was 56.

  • Study: US millennials buying homes later

    Updated: Wed, Jul 16, 2014

    WASHINGTON (AP) — Don't blame the millennial generation for lackluster home sales. They are increasingly ethnically diverse, more educated and less likely to be married — all factors that make them less likely to own a home, said a new report released Wednesday by Trulia, the online real estate firm. After adjusting for these population changes, younger Americans are actually buying homes at the same rate as they did during the late-1990s. "For at least the past 20 years, there have been significant demographic headwinds for homeownership for young people," said Jed Kolko, chief economist at Trulia.

  • Does Oklahoma City commercial property really need an asterisk?

    BY RICHARD MIZE, Real Estate Editor | Published: Sat, Jul 12, 2014

    Foreign capital spilling out of gateway cities to lower-tier real estate markets? Does that include Oklahoma City? Should it?

  • US construction spending up 0.1 percent in May

    Updated: Tue, Jul 1, 2014

    WASHINGTON (AP) — U.S. construction spending barely increased in May as gains in spending on non-residential projects such as office buildings and public construction were largely offset by a big drop in home building. The Commerce Department says construction spending edged up 0.1 percent in May after a much stronger 0.8 percent April increase. The back-to-back gains followed a period of weakness in which spending fell in both January and February and was flat in March. The construction industry has struggled with an unusually severe winter which curtailed building activity in many regions. Construction activity totaled $958.1 billion at a seasonally adjusted annual rate in May, up 6.6 percent from a year ago.

  • US construction spending edges up 0.1 percent in May although home building declines

    Updated: Tue, Jul 1, 2014

    WASHINGTON (AP) — US construction spending edges up 0.1 percent in May although home building declines.

  • CoreLogic: US home prices rose more slowly in May

    Updated: Tue, Jul 1, 2014

    WASHINGTON (AP) — U.S. home prices rose in May compared with a year earlier, but the gains have slowed. Data provider CoreLogic said Tuesday that prices increased 8.8 percent in May compared with 12 months earlier. The pace of gains has slowed as more homes have come onto the market, according to CoreLogic. On a month-to-month basis, prices rose 1.2 percent from April to May. But CoreLogic's monthly figures aren't adjusted for seasonal patterns, such as warmer weather, which can affect sales. Prices increased the most in Western states, including Hawaii, California and Nevada. Home sales began to stall in the middle of last year after double-digit price increases and higher mortgage rates made real estate less a

  • Japan May data show economy slowing but resilient

    Updated: Mon, Jun 30, 2014

    TOKYO (AP) — Japan's economy is slowing following a sales tax hike but not as badly as some economists feared, according to two business surveys released Tuesday. The central bank's quarterly business confidence survey showed sentiment falling for the first time in 18 months in April-June. But the decline in the index, to 12 from 17 in March, was less than feared. The index, which is a measure of the percentage of companies reporting positive conditions versus those reporting negative conditions, is expected to rise to 15 in September. Demand has waned following a rush of purchasing to beat the tax hike. Automakers and retailers were the industries hardest hit by the April 1 increase in the sales tax to 8 percent from