New-home sales tumble in January on big decline in West

Americans stepped back from buying new homes in January, as purchases plunged sharply in western states where prices are typically higher. The Commerce Department said Wednesday that new-home sales fell

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New-home sales rose in November after weak October

Americans appear less inclined to buy new homes as the year ends. Sales improved in November only because fewer people bought new homes in October than initially reported. The Commerce

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Housing, consumer spending, GDP on tap

The Federal Reserve’s first interest-rate hike in almost a decade is history after it finally pulled the trigger last week. Now, on to obsessing about when the central bank will

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New housing construction starts rise in November

More new homes were built in November, fueled by a job market recovery and steady consumer confidence. New U.S. home construction starts in November rose 16.5% from a year ago

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Housing starts plunge 11% in October on fewer apartment buildings

Apartment construction plunged sharply in October, as the pace of homebuilding slipped amid a broader cooling of the real estate market. Housing starts — both houses and apartments— fell last

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Marriott International to buy Starwood Hotels for $12.2B

Marriott International (MAR) has agreed to buy Starwood Hotels and Resorts in a $12.2 billion deal that will make it the largest hotel chain in the world. The boards of

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Apartments drive home construction gains in September

Construction companies built more apartment complexes in September, sparking a temporary rise in housing starts for a real estate market that otherwise appears to have crested during the summer. Housing

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Home prices in July rose 5% from a year ago

U.S. home prices rose at a solid pace in July, as would-be buyers competed for a diminished supply of available housing. The Standard & Poor’s/Case-Shiller 20-city home price index climbed

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Housing starts slump 3% in August; weekly jobless claims fall

Builders broke ground on fewer houses and apartment complexes in August, a possible sign that the housing market may be leveling off after accelerating for much of the year. Housing

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China issues blueprint for state industry overhaul

China’s Communist Party has issued a long-awaited blueprint for overhauling bloated state industries even as it aims to retain the party’s dominance in the economy. The plan comes at a

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New York OKs $15 minimum wage for fast-food workers

New York state will gradually raise the minimum wage for fast-food workers to $15 an hour — the first time any state has set the minimum that high. Gov. Andrew

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New-home sales come back, jump 5.4% in July

Americans stepped up their purchases of new homes in July, with sales surging in the Northeast. The Commerce Department says new-home sales rose 5.4% last month to a seasonally adjusted

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Housing data, inflation and the Fed

Incoming fresh data this week on consumer inflation and housing will collide with the release of minutes of last month’s Federal Reserve meeting and perhaps offer clues as to whether

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Critics pummel N.Y. economic development program

The criticism grew quickly as figures were released: The Start-Up NY program cost taxpayers $53 million in ads, and the program created 76 jobs. The initiative, heavily promoted in TV

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Existing home sales surge, prices hit record

Existing homes were sold at the fastest pace in eight years last month and the median sales price reached an all-time record high, the National Association of Realtors said Wednesday.

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Mortgage rates fall amid global uncertainty

Mortgage rates took a step back from year-high levels this week as uncertainty in world financial markets continues to rankle investors. According to mortgage giant Freddie Mac, the rate on

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Existing home sales jump 5.1% in May

Existing home sales bounced up at the highest pace in nearly six years in May, resuming improvement in the housing market after an unexpected decline in April. Sales rose 5.1%

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Standard Pacific, Ryland Group to merge in $5.2B deal

Two major homebuilders, Standard Pacific and The Ryland Group, announced a merger agreement Sunday in a deal that would form a single company with what they say would be an

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Home price gains heated up in February

Americans watched the value of their homes rise faster in February, an influential report on the housing market showed Tuesday. Home prices rose 5% year-over year compared with 4.5% in

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Existing home sales surge to fastest pace in 18 months

Existing home sales in March leaped to their fastest pace in 18 months, making a well-timed upturn at the start of the peak spring buying season. Sales rose 6.1% —

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