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Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded and manufacturing activity hit its lowest level in almost a decade in May, suggesting a sharp slowdown in economic growth was underway.
The housing market is stumbling through its longest slump in four years, as the divergence between a booming U.S. economy and weakening home sales that many had dismissed as temporary now looks poised to continue. A combination of rising mortgage rates and high home prices.
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Americans snapped up previously owned homes in May in the biggest monthly sales gain in almost. and “the creation of well-paying jobs will go a long way” toward boosting the market. “Given the low.
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(MORE: Home sales up at end of dismal year, offering hope). The Council on Foreign Relations recently put out a report calling for a rethinking of global trade rules and enforcement as countries like the U.S. struggle to hold their own against emerging market giants like China.
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WASHINGTON, May 23 (Reuters) – Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded and manufacturing activity. benefits unexpectedly fell last week.
AUD and USD: RBA is ready to lower rates further. The US housing market signals the first problems and a possible slowdown – Forex Hitlist Lower rates however are a positive for housing markets with signs predictably emerging of a This year has already seen two cash rate cuts, a federal election and a sizeable tax rebate for many With the cash rate at 1%, the RBA said there’s no immediate need for further monetary easing, although a.